The spread between long-term fixed rates and ARM’s has widened. The 5 Year Fixed/1 Year ARM is currently ~3.125%. The 7 Year Fixed/1 Year ARM is currently ~3.5%. The 10 Year Fixed/1 Year ARM is currently ~4%. ARM’s offer 30 Year amortizations. The 30 Year Fixed, by comparison is ~4.5%.
Depending upon credit scores, loan-to-value, and loan amount, 30 year fixed interest percentage rates possibly available in low 4’s and 15 year fixed rates down in the mid 3’s. Refinancing now may be a financial benefit. Please contact us to discuss further!
Loan amounts up to $1,000,000, and up to 80% of home’s value, are available for purchase or refinancing purposes.