Mortgage rates tick up, but applications still hit a 9-year high – The 15-year fixed-rate mortgage averaged 3.62%, up two basis points. The 5-year Treasury-indexed hybrid adjustable-rate.
An adjustable-rate mortgage, or ARM, is a home loan that starts with a low fixed-interest "teaser" rate for three to 10 years, followed by periodic rate adjustments.
The Credit union offers unique adjustable rate Mortgage (ARM) products to purchase or refinance primary residences, second homes and rental properties for members who reside in and for properties located in North Carolina, South Carolina, Virginia, Georgia and Tennessee unless further restricted as outlined below.
The rate on your adjustable rate mortgage is determined by some market index. Many adjustable rate mortgages are tied to the LIBOR, Prime rate, Cost of Funds Index, or other index.The index your mortgage uses is a technicality, but it can affect how your payments change.
PDF Consumer Handbook on Adjustable-Rate Mortgages – ii | Consumer Handbook on Adjustable-Rate Mortgages This information was prepared by the Board of Governors of the Federal Reserve System and the O ce of Thrift Supervision in consultation with the following organizations:
An adjustable rate mortgage, called an ARM for short, is a mortgage with an interest rate that is linked to an economic index. The interest rate and your payments are periodically adjusted up or down as the index changes.
What Is an Adjustable-Rate Mortgage? — The Motley Fool – Drawbacks of adjustable-rate mortgages. The fact that the interest rate on an ARM changes over time can be both a blessing and a curse. If you’re lucky, you’ll see your rate go down once you’ve.
Today’s low rates for adjustable-rate mortgages. An amount paid to the lender, typically at closing, in order to lower the interest rate. Also known as mortgage points or discount points. One point equals one percent of the loan amount (for example, 2 points on a $100,000 mortgage would equal $2,000).
An adjustable-rate mortgage (ARM) is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan. Normally, the initial interest rate is.
In Defense of Adjustable-Rate Mortgages – Megan McArdle is a Bloomberg View columnist. She wrote for the Daily Beast, Newsweek, the Atlantic and the Economist and founded the blog Asymmetrical Information. She is the author of "”The Up Side.