We are still underwater and our usurious ARM just reset to 4.5%. It has done nothing but drop, drop, drop since 2008. I really have to wonder about all these people who said that "the 0-down ARM mortgages are all resetting and people can't afford them." Ours has progressively become MORE affordable, and we were definitely suckered into a subprime mortgage horror.

Thanks, pp. that's what my DH says. Don't look back! you are right, of course. funny how anything mortgage related seems to cause paralysis in me. After the market fell and our value dropped, my anxiety about anything mortgage related is ridiculous. it's nice to have a pleasant reminder. thanks again!

historically 4% is a fantastic rate, plus if you average what you did pay with the 4% you have a great rate.

i'm bummed. had an ARM that ran out, ended up with a great interest rate, 2.3% Enjoyed it for a few months, and then i realized only today that interest rates are climbing! we only have about 10% equity, and our building has too many renters to be FHA approved. the best i can seem to get is 4%, or 4.4% APR through my credit union. sucks, our value dropped so much after the bubble burst, and we're just so happy that we're not underwater anymore. but i was hoping to go another year or so with such a good interest rate.