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Mortgage Rates Fall For ARMs Faster Than For Fixed Rate Mortgages

November 8, 2007 by Scott Kinne

After running neck-and-neck for several months, interest rates for fixed-rate mortgages and adjustable-rate mortgages are finally diverging.

Despite pricing worse than its fixed-rate counterpart throughout much of August and September, ARMs are now close to 0.375 percent lower for conforming products sold through Fannie Mae and Freddie Mac.

This equates to roughly $25 per month per $100,000 borrowed.

If you know that you don’t need a 30-year rate commitment from your lender, you may find that a well-structured ARM is a real money-saver.

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Scott Kinne

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Vice President, Senior Loan Officer
NMLS ID #182351
Office: 703.293.6146
Mobile: 571.237.6241
Fax: 571.317.2478
skinne@fhmtg.com

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