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curt_gendron · 08-15-2013

For our new house I locked in back in the first week of May. We are doing a 10 year ARM and taking the risk. We locked at an insanely low 2.5%. I plan to pay a little extra each month. So even if the rates are higher in 10 years, maybe I can lock in a 15 year loan for a reasonable rate. I have a feeling we aren't going to see 7 or 8% interest rates again. My mortgage would be capped at 7.5%.

later,
Curt

08-15-2013	#19
curt_gendron Join Date: Oct 2003 Location: Minnesota Posts: 1,647	Re: Refinance - ARM? Thoughts.... For our new house I locked in back in the first week of May. We are doing a 10 year ARM and taking the risk. We locked at an insanely low 2.5%. I plan to pay a little extra each month. So even if the rates are higher in 10 years, maybe I can lock in a 15 year loan for a reasonable rate. I have a feeling we aren't going to see 7 or 8% interest rates again. My mortgage would be capped at 7.5%. later, Curt __________________ Minnesota 3/S