Good morning, I hope all is well readers.
Before I left last night I printed my most recent Rate Sheet for all Mortgage Products; 30 years fixed, 15 year fixed, 5/1 ARM, and all of the Jumbo Products. With regards to Mortgage pricing right now one thing that is very obvious is how attractive the conforming 5/1 ARM and 5/1 Jumbo ARM rates are. Wow, I have never seen such a discrepancy between the 30 years fixed and 5/1 ARM. Mortgage Rates have been rising quickly since November of 2010, and even since 1/31st of last year. Now is an amazing time to look at 5-year ARMs. See for yourself, compare the 30 years fixed to a 5 year ARM.
Please keep in mind a 5 year ARM is not for everyone… however, if you will be selling or buying a property soon and only plan on owning it for 5 years then I would very seriously look at a 5 year ARM
Inquire within for current conventional 5/1 ARM and Jumbo 5/1 ARM Rates