September 19th, 2011 11:21 AM by Eric Fang
Q: I Read about your blog, and seems like more andmore people are interested in 15 yr fixed.I have 500k loan, could you please the advantage and disadvantge of the 15 yr fixed rate?
A: Lots of buyers chose 5/1ARM for the rates of 2.75% to 2.875% beginning of this year.But still some borrowers are very afraid of the future rates increase. So they think 15 yrfixed of 3.375% not a bad option. This program is not for everyone. This is for those whowants to have a longer term, who wants to close the loan faster. There are more peopleinterested in this program recently.