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Message
Need the Money Talk Crystal Ball
Posted on 11/20/15 at 6:52 pm
Posted on 11/20/15 at 6:52 pm
I wish one existed. I know no one knows but I am looking at a mirtgage situation that requires some speculation on future mortgage rates.
The ARM deal I am looking at would give me a lower interest rate to start, but I would need to refinance between 4Q 2017 and 4Q 2020.
The break even interest rate would be 5.5%. How much of a gamble is it to take the lower rate in an ARM, and hope that I can refinance in that three year term for lower than 5.5?
The ARM deal I am looking at would give me a lower interest rate to start, but I would need to refinance between 4Q 2017 and 4Q 2020.
The break even interest rate would be 5.5%. How much of a gamble is it to take the lower rate in an ARM, and hope that I can refinance in that three year term for lower than 5.5?
2
Posted on 11/20/15 at 7:17 pm to anc
Personally I wouldn't take an ARM unless you knew with high certainty that you would be selling your house in that time period. Rates are too low right now not to lock into something longterm if you plan to stay in your house for a long time.
Posted on 11/20/15 at 7:33 pm to barry
quote:
Rates are too low right now not to lock into something longterm if you plan to stay in your house for a long time.
Posted on 11/20/15 at 7:49 pm to barry
quote:
Rates are too low right now not to lock into something longterm
Even if you aren't planning to stay there for a long time, you can rent it when you do move.
Posted on 11/20/15 at 11:01 pm to anc
Lock it in. Look at the debt market baw.
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