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MORTGAGES

Should I Refinance With An Adjustable Rate Mortgage?

By The BIDaWIZ Team on July 18th, 2012 at 10:30 am

Adjustable rate mortgages may seem like a great deal these days with average rates for 1 year ARMs at or near 2.7%. This compares to 30 year and 15 year fixed rate mortgages at 3.6% and 3.0% respectively. Does the extra 30 to 90 basis points in annual interest savings justify the risk of obtaining an adjustable rate mortgage? .
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