Adjustable-Rate Mortgage: Good or Bad Idea as Rates Rise?

At first glance, an adjustable-rate mortgage. But although our savings rate has risen, many of us still don’t have quite the savings we need to feel comfortable with the prospect of a rising.

Not too long ago, brokers and agents alike convinced many a financially nave home buyer to buy a home he or she couldn’t afford on an interest-only ARM (adjustable rate mortgage). The idea was that in a short time, the property value would rise and the owner would thus magically acquire sufficient equity to qualify for a conventional loan on better terms.

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Adjustable-rate mortgages are certainly tempting, with their low introductory interest rates.. The good news: An adjustable-rate mortgage, or ARM, isn’t all bad;. Don’t jump from one bad.

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Getting an adjustable-rate mortgage as interest rates rise can be risky. Here are two situations when ARMs are a good idea – and two when they aren’t.

Why Adjustable Rate Refinance Mortgage Rates Are a Bad Idea – Why Adjustable Rate Refinance Mortgage Rates Are a Bad Idea by Robert Regehr I f you’re considering taking out a new home loan to take advantage of today’s low refinance mortgage rates you might be tempted by that 5/1 Adjustable Rate boasting less than 3% from lenders like Amerisave .

How ARM rates work: 3/1, 5/1, 7/1 and 10/1 mortgages 7/1 ARM Mortgage Rates. NerdWallet’s mortgage comparison tool can help you compare 7/1 ARMs and choose the one that works best for you. Just enter some information and you’ll get customized.

Adjustable-rate mortgages (ARMs) get a bad rap.. "Lock in your rates before they rise" is a better pitch than "come back tomorrow, rates might.

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With home prices and interest rates rising in tandem, it's more important than. They don't make you pay a lot of points upfront to nab a good rate, either.. Adjustable-rate mortgages generally have low, fixed initial interest rates for the. Reading through comments sections isn't a bad idea, but you should.

Know the differences between adjustable- and fixed-rate mortgages so you can choose the right loan for you.. with an adjustable-rate mortgage, or ARM.. A limit on how much your rate can rise.

4 Reasons Adjustable Rate Mortgages are on the Rise – One avenue you may not have considered – and may have even been warned against – however, is an adjustable rate mortgage, or ARM loan. Adjustable-rate mortgages got something of a bad rap.