US 30Y Mortgage Rate Climbs To 5.54% While 5/1 ARM Rate At 4.20% (134 Basis Point Spread)
by confoundedinterest17 Mike Lea and I wrote a paper entitled “Do We Need The 30yr FRM (Fixed-rate Mortgage)”. We argue that millions of Americans would benefit from an adjustable-rate mortgage like the 5/1 ARM for a host of reasons. One good reason for a 5/1 ARM is the fact that it 134 basis points less expensive than the … Read more