Mortgage Blog

Q: I Read about your blog, and seems like more and
more 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 yr
fixed of 3.375% not a bad option. This program
is not for everyone. This is for those who
wants to have a longer term, who wants to
close the loan faster. There are more people
interested in this program recently.