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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. [1] The loan may be offered at the lender's standard variable rate/base rate. There may be a direct ...
5/6 and 5/1 ARMs: 5/6 and 5/1 ARMs offer a fixed intro rate for the first five years of the mortgage, then switch to an adjustable rate for the remaining 25 years. 5/6 ARMs adjust every six months ...
The producer price index released a day earlier on January 14 reported a modest 0.3% increase in wholesale prices in December, ... For a 5/1 adjustable-rate mortgage, the first number indicates ...
Producer price index (PPI) ... For a 5/1 adjustable-rate mortgage, the first number indicates the number of years at the fixed rate — or five years — and the second number indicates the rate ...
The rate you pay will be the rate of the index at the time of the reset plus a margin set by the lender. Where can you find an adjustable-rate mortgage?
An adjustable-rate mortgage (ARM) is a home loan whose interest rate changes periodically after a set intro period. ... moving up and down with that index. Adjustable-rate mortgages are capped at ...