What are the general opinions of an ARM mortgage on this current climate. For example I am being offered a 30 year fixed at 5.075% and a 15/6 ARM for 4.625%. The ARM would save me over $300 monthly and about $65,000 over the 15 year period.
Is it worth it to do the ARM now and plan to refinance prior to the 15 year period? Or does everyone believe we won’t see rates in the 4-5% range in the future again?
submitted by /u/gwil609
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What are the general opinions of an ARM mortgage on this current climate. For example I am being offered a 30 year fixed at 5.075% and a 15/6 ARM for 4.625%. The ARM would save me over $300 monthly and about $65,000 over the 15 year period. Is it worth it to do the ARM now and plan to refinance prior to the 15 year period? Or does everyone believe we won’t see rates in the 4-5% range in the future again? submitted by /u/gwil609 [link] [comments]
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