6.2.3Journal:AssignmentJournal Financial Literacy
Points Possible:30
Name:Branford EdmondsDate:
YOUR ASSIGNMENT:
1. The American dream includes home ownership. But in the last few years, it's gotten harder and harder to own a home. Do you think home ownership is important to most Americans today? Why or why not? (10 points: 5 points for answering the question; 5 points for explaining your reasons)

2. Adjustable-rate mortgages often start out low and then "adjust" to a higher rate after a few years. Fixed-rate mortgages are guaranteed to stay at the same rate over the life of a loan, but are usually more highly priced. Would you take the risk of buying with a lower-cost adjustable-rate loan? Why or why not? (10 points: 5 points for answering the question; 5 points for explaining your reasons)

3. Choosing a home can be a very personal matter. Some people care most about the location, while others are most concerned about the size, style, and amenities. What are your top priorities in choosing a home? What do you feel is unimportant in a home? Based on your priorities, what type of house do you think you'd be likely to buy? (10 points: 3 for your priorities, 3 for the items you feel are unimportant, and 4 for the type of house you'd be likely to buy.)