How ARM rates work: 3/1, 5/1, 7/1 and 10/1 mortgages
Contents25 years. 3/1 arm:Fixed-rate mortgage (frm0.7 origination pointFind competitive 15-year fixed mortgage ratesUnderlined loan program.. select/change stateGarrett borgman. mortgage5/1 ARM: Your interest rate is set for 5 years then adjusts for 25 years. 3/1 arm: Your interest rate is set for 3 years then adjusts for 27 years. General Advantages and Disadvantages. The initial interest rates for adjustable rate mortgages are normally lower than a fixed rate mortgage, which in turn means your monthly payment is lower.Rising Mortgage Rates Thorn in Otherwise Rosy Conditions for Home Buyers - Research MBS RECAP: Weak NFP Helps Bonds Break Back Below Key Technical Level People. Possibilities. Purpose. Professionalism. This is what gets him out of bed each day.Will has been in the financial and mortgage lending services for 25 years, he is licensed…