adjustable
Fear! Adjustable-rate 30Y Mortgages (ARMs) Are 130 Basis Points Lower Than 30Y Fixed-rate Mortgages, But ARMs Are Only 7.9% Of Mortgage Originations
by confoundedinterest17 Michael Lea and I wrote a paper several years ago arguing that most borrowers would be better-off with an adjustable-rate mortgage than a fixed-rate mortgage. The US is one of the few countries in the world where the …
US Mortgage Rates Jump To 4.2%, Spread Between Fixed-rate Mortgages And 5/1 Adjustable-rate Mortgages Now 133 Basis Points (Broken ARMs??)
by confoundedinterest17 The US 30-year mortgage rate broke through the 4% barrier. According to Bankrate’s mortgage survey, the 30-year mortgage rate is now 4.2%. Even more interesting is the 5/1 Adjustable Rate Mortgage (ARM) rate falling slightly to 2.87%. That is …
The Average Adjustable-rate Mortgage Is Nearly $700,000!
by confoundedinterest MarketWatch has the tantalizing headline of “The Average Adjustable-rate Mortgage Is Nearly $700,000.” True, the average loan size for ARMs (adjustable-rate mortgages) is substantially higher than for FRMs (fixed-rate mortgages). But here is a catch. Mortgage refinancing applications are virutally …
Lloyds Bank Resurrects 0%-Down Adjustable-Rate Mortgages for First-Time Buyers to Prop Up UK’s Housing Market
Desperate measures for desperate times? By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. As house prices in the UK continue to slip-slide downwards, compounding fears that the multi-year housing boom has run out of gas, the country’s largest mortgage …