5 Year Adjustable Rate Mortgage
Contents5 year armArm variable 4.814% 7/116 aug 2018 08:30Variable rate home loansWhen an adjustable-rate loan could be the better choice. As I mentioned, the 5/1 ARM mortgage comes with a lower interest rate, but its cost is certain only for the first five years.A 5 year arm, also known as a 5/1 ARM, is a hybrid mortgage. A hybrid mortgage combines features from an adjustable rate mortgage (ARM) and a fixed mortgage. It begins with a fixed rate for a specified number of years, but then changes to an ARM with the rate changing every year for the rest of the term of the loan.Today's low rates for adjustable-rate mortgages. 5/1 arm variable 4.814% 7/1 ARM Variable 0.799 5/1 ARM Variable 0.737 Mortgage rates valid as of 16 aug 2018…