There are many reasons why homeowners refinance: to obtain a lower interest rate; to shorten the term of their mortgage; to convert from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage, or.

An adjustable rate mortgage is a loan in which the interest rate can fluctuate during the term of the loan. There are many reasons why borrowers may choose an adjustable rate mortgage. adjustable rate Mortgage Advantages. Low initial rates and payments. Lifetime cap on rate adjustments limited to 6% over the introductory rate. Mortgage loans.

The other option is to refinance into a new adjustable-rate mortgage. The main benefit of this approach is that interest rates for ARMs are typically lower than rates for fixed-rate mortgages. While the average interest rate for a 30-year fixed rate mortgage currently sits at 4.58%, the average rate for a 5/1 ARM is only 3.74%.

While adjustable-rate mortgages have been a good choice with low mortgage rates, rising rates could mean it’s time to refinance to a fixed-rate mortgage. We help decide whether to refinance your.

Mortgage Rate Index Feb. NAHB housing index gains as mortgage rates dip | Bond. – IFR’s poll of economists predicted the index would be 59. “Ongoing reduction in mortgage rates in recent weeks coupled with continued strength in the job market are helping to fuel builder.

Adjustable rate mortgages and 30-year fixed mortgages closely track the 10-year government bond yield. Back in January 2015, I was able to successfully lock in a 2.25% 5/1 ARM jumbo loan with Chase. Unfortunately, they rejected me two months later due to the inability to recognize my freelance income.

5-Year Adjustable Rate. The information provided assumes the purpose of the loan is to refinance (an) existing loan(s) secured by real property, with a loan amount of $300,000 and an estimated property value of $375,000 (80% LTV). The property is located in Olympia, WA and is within Thurston County.

7 1 Arm Mortgage Rates 7/1 Adjustable Rate Mortgage – PenFed Credit Union – 7/1 adjustable rate mortgage (arm) from PenFed. Rate adjusts annually after 7 years for homes up to $453,100./ We use cookies to provide you with better experiences and allow you to navigate our website.

Adjustable Rate Mortgage – We are most popular loan refinancing company. We can help you to save your money and time when refinancing your mortgage or buying a home.

Adjustable Rate Mortgage. An adjustable rate mortgage ( commonly known as an ARM) features a lower initial interest rate for 5, 7 or 10 years. Following this initial term, your rate and monthly P&I payment can change annually based on prevailing interest rates. A Home Loan Specialist can help you decide which loan option is right for you.

The refinance share of mortgage activity fell to 49.8% of applications from 50.0%. The adjustable-rate mortgage (ARM) share of activity fell to 4.7%. The FHA share rose to 11.3% from 10.6%, the VA.