Remember “marry the house, date the rate”? 😬
That was a BET that you'd be able to refinance later.
Now ARMs are making a comeback because the spread is huge:
30-year fixed: 6.85%
5-year ARM: 5.82%
I'm not anti-ARM. My own father took one.
But the mortgage needs to fit your timeline TODAY, without depending on your prediction of tomorrow.
Have questions about buying, refinancing, or tracking your mortgage rate in California?
Call or text 925-885-1919, request a video or phone appointment, enroll in free RateAnalyzer rate monitoring, or start our Quick Application.
Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate