Mortgage Blog

ARM rate will be better Monday

April 3rd, 2015 9:29 AM by Eric Fang

The bond market closed today. But nonfarm Payrolls plummeted to an eye-watering 126k versus expectations of 245k. I can get good 7/1 ARM rates Monday.

The possible rates could be 7/1 ARM 2.75% with LTV <=60% for impound account. For rentals, 7/1 ARM 3.375%; 5/1 ARM 3.25%.

The fixed rate might be better as well Monday. I already have some clients refinanced the 5/1 ARM. He has 5/1 ARM 2.375% with one year left on the program, and we refinanced to 2.625% recently. I have another client switched to 7/1 ARM 2.75%, both are very good rates.

Posted in:General
Posted by Eric Fang on April 3rd, 2015 9:29 AM



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