Mortgage Blog

For the last a few weeks, there are some borrowers
either change the loan programs or refi ARM again.

1)some borrowers changed 5/1ARM to 30 yr fixed
or 15 yr fixed when fixed rates are low. Those
borrowers want to have a piece of mind of the
long term.

2)And starting last week, some borrowers want to
refinance again, to 5/1ARM 2.5% to 2.625% rate.
And for those borrowers, they did not get much better
rate since they already have 2.75% or 2.625% rate.
They simply just want to have another 4 or 6 months
extended for the ARM with slightly better rates.