Adjusting conforming mortgages are adjusting to as low as 3 percent. If you have one, should you let your rate fall? Or refinance out?
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From the category archives:
Adjustable Rate Mortgages
If your adjustable rate mortgage is due to adjust this year, don’t go rushing to replace it just yet. Your soon-to-adjust mortgage rate may actually go lower this year.
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If your mortgage is set to adjust this year, the smart move may be to let it. Today’s conforming mortgages are adjusting lower than ever before — as low as 3 percent. It may not be what you expected when you signed for your ARM several years ago.
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