The interest rates on a 5/1 jumbo ARMs are on the rise again after a brief decline. Look for the rates on these ARMS to continue to rise for a while. ( Source: Bankrate.com )
A 5/1 jumbo ARM is an "adjustable rate mortgage, that has an initial interest rate for the first five years, and which changes annually thereafter, based on an index. A jumbo mortgage is a home loan that exceeds a certain amount (the 2005 limit is $359,650"
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