Is your mortgage scheduled to adjust this season? You may want to let it. This year's ARM-holding homeowners in Virginia are finding out that an adjusting mortgage may be the simplest way to get access to today's low mortgage rates -- without paying the closing costs. Currently, conventional adjust...
For the first time in a year, homeowners with adjusting mortgages are facing rising mortgage rates. The interest rate by which many adjustable-rate mortgages adjust has climbed to its highest level since September 2010, and looks poised to reach higher.
This is because of the formula by which adjusta...
When a mortgage applicants chooses an adjustable-rate mortgage over a fixed-rate one, he accepts a risk that -- at some point in the future -- the mortgage's interest rate will rise. Lately, though, that hasn't been the outcome. Since mid-2010, conforming mortgages have adjusted below their initial...(1)
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