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Bubble Meter is a national housing bubble blog dedicated to tracking the continuing decline of the housing bubble throughout the USA. It is a long and slow decline. Housing prices were simply unsustainable. National housing bubble coverage. Please join in the discussion.
The interest rate is fixed for the first 5 years then adjusts according to market conditions.
ReplyDeleteAnyone who has had a 30FMR for the last 5 years converted to current 1ARM rates will enjoy a substantially reduced payment.
ReplyDeleteMore specifically, anyone who has had a 5/1ARM for the last 5 years will have their monthly payment reduced if converted to 1ARM rates even remotely close to todays rate.
ReplyDelete