Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Real Estate
Reply to "Your Rate"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous]Why are people locking in 30 year rates if they can get a lower 5 year arm and refinance? [/quote] The risk is not worth the small difference in the rate between the 30YR and the ARM (today my credit union is quoting 7.25 for 30 year and 6.375 for 5 year ARM, ie less than a 1% difference). The difference on your monthly payments won't be that large (assuming 1m around 400 per month) but the risk is massive. If rates are even higher in five years you are potentially screwed. On the flip side, if rates go down to, for example 5%, you can always refi when on fixed). The risk just ain't worth the minor difference in payment [/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
