Adjustable Rate Mortgage
Adjustable Rate Mortgages ARMs
As of January 2018 the Federal Reserve and the Bond Market in general are finally allowing interest rates to rise. This is not exciting news for World Trade Mortgage because low interest rates make it easier for PA residents to become homeowners. And while we would love for interest rates to remain low until the end of time, the fact of the mater is that these low rates are not healthy for our economy, so it’s a bitter sweet goodbye. With that, we HIGHLY recommend that anyone with an Adjustable Rate Mortgage in PA give us a call to review refinancing to a fixed rate mortgage.
Adjustable Rate Mortgages (aka. ARMs) are different from fixed rate mortgages in several ways. Most notably, the interest rate of a fixed rate mortgage stay’s the same for the life of the loan and the interest rate of an Adjustable Rate Mortgages changes periodically. To learn more about Adjustable Rate Mortgages Click Here.