Mortgage Blog

We talked about more borrowers are changing 30 yr fixed to lower ARM rates for the primary. And I did lots of those kind of loans this year, especially when the interest rate is at one year low.

And the past week, we have some clients are refinancing the 30 yr fixed rental to the ARMs as well. The new favorable programs are 7/1 ARM or 10/1 ARM loans, and the rates can be around 4.25% for 10/1 ARM, 4% for 7/1 ARM with no closing cost and APR around 4.76%.