Seven Questions To Understand ARMS
Here are seven questions to understand ARMS which you should ask your lender. If you’re shopping for a mortgage, you need to decide whether to choose one with a fixed or adjustable interest rate. Last year ajustable rate mortgages only accounted for 4% of mortgages in the US, but now they are as much as 10% of mortgages – a real reflection of the higher interest rates. Clearly, lots of buyers think the ARM Is a good option for home purchases in this market.