ARM

Adjustable Mortgage Rates – Pros and Cons

With home loan interest rates at an historic low, many people are rethinking the adjustable rate mortgage. This type of mortgage rate, which is commonly abbreviated as ARM, comes in a few different flavors. Unlike fixed mortgage rates, they fluctuate over time. The majority of homeowners – roughly seven out of ten, according to Bankrate.com – prefer fixed rates for this reason. Although they have traditionally gotten a lot of bad press, ARMs might be worth a second look. At the very least, it is good to familiarize yourself with the pros and cons of the adjustable rate mortgage.

By | 2017-10-23T11:25:40+00:00 April 24th, 2014|Categories: Financial, Mortgage|Tags: |

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