Is the 5/1 ARM good for refinancing currently?
Robert Schiano (Robert Schiano)
#2 ranked lender in New York - 7 contributions
With fixed rates at a all time low it would be much better to refinance into a fisex rate.Bob Schianoaimfc@aol.com
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
It depends. If you absolutely know you will not have sold this home in 5 years, an ARM could be advantageous. If you are pretty sure you will be in the home longer, then you best bet is to lock in a fixed rate now, while they are still low. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in AZ, CA, GA, IL, OR & WA... In fact, NEXA is licensed in all states except MA and NY and we are pending approval in VA, so give us a call. ~ www.ApplyYes.com 480-889-9000.
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