5 Years Arm Mortgage Rates
5-Year Adjustable Rate Mortgage. This is a 30-year loan in which the rate (and therefore your monthly payment) changes every 5 years. This loan is a nice compromise between shorter term adjustable rate mortgages and Fixed Rate programs. You might choose this program if you expect to stay in your current home beyond the initial five years,
A year ago at this time, the 15-year FRM averaged 4.05 percent. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM).
(Click to enlarge. Image courtesy of Freddie Mac.) Both the 15-year fixed-rate mortgage and the 5-year Treasury-indexed hybrid adjustable-rate mortgage also fell in the last week, but not as.
the average rate for a 15-year fixed rate mortgage was 3.20%, up from 3.18% the previous week. A year ago at this time, the.
Borrowers have been taking it on the chin the past few years. would reduce adjustable-rate mortgages by a half percentage.
An adjustable-rate mortgage, with its lower initial. an example of how quickly your payment can rise with a 5/1 ARM rate that adjusts two percentage points higher at the first reset after five.
Mortgage rates are already pretty low, Feroli said, noting that a 30-year fixed rate mortgage. movement in variable-rate products like adjustable-rate mortgages, or ARMs, and home-equity.
The average interest rate for a 15-year fixed-rate mortgage rose from 3.45% to 3.48%. The contract interest rate for a 5/1.