Enhance Your Buying Power with a 5/5 Adjustable Rate Mortgage. Interest rate and payment may increase over the life of the loan. After the initial fixed-rate period, your interest rate can increase or decrease every five years, according to the market index. Any change may significantly impact your monthly payment.
A variable-rate mortgage, adjustable-rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets. The loan may be offered at the lender’s standard variable rate/base rate.
The 5-Year Adjustable Rate Mortgage (ARM) at Star One Credit Union-starting at 2.875% interest rate and a 3.672% APR 1. The 5/5 ARM combines lower initial payments with an extended period between rate and payment changes for greater rate security than traditional a ARM.
Arm Mortgage Freddie Mac: Mortgage rates nearly hit a 2-year low – This time last year, the 15-year FRM came in at 4.01%. Lastly, the five-year Treasury-indexed hybrid adjustable-rate mortgage.
A 5/5 ARM mortgage is a loan option for potential home buyers in which interest rates change, or are adjustable, after a period of time. In the case of a 5/5 ARM mortgage, the interest rate on the mortgage loan is adjusted after the fifth year of the mortgage. After that point, the interest rate is adjusted every five years until the term of the mortgage expires.
Bankrate.com provides FREE adjustable rate mortgage calculators and other arm loan calculator tools to help consumers learn more about their mortgages.
The adjustable-rate mortgage (ARM) share of activity rose to 9.5% of total applications. The FHA share fell to 8.8% from 9.3%, the VA share remained unchanged at 10.4%, and the USDA share remained.
The adjustable-rate mortgage share of activity reached 7.8% of total applications. fixed-rate mortgages with conforming loan balances (3,100 or less) climbed to 5.15% from 5.11% the previous.
An Adjustable-Rate Mortgage (Arm) An adjustable-rate mortgage (arm) is a loan in which the interest rate may change periodically, usually based upon a pre-determined index. The ARM loan may include an initial fixed-rate period that is typically 3 to 10 years.
Fixed or Adjustable Rate Mortgage? Fixed Rate Mortgage. A Fixed Rate Mortgage is a loan based on an interest rate guaranteed for a specific amount of time.
Current 5-Year ARM Mortgage Rates. The following table shows the rates for ARM loans which reset after the fifth year. If no results are shown or you would like to compare the rates against other introductory periods you can use the products menu to select rates on loans that reset after 1, 3, 5, 7 or 10 years.