Calling all mortgages with rates over 5.25%! 30 year fixed at 4.5% …
Today rates are below 3% for a 5-year ARM loan; and as low as 3.5% on a 7-year ARM, depending on loan size. It is harder to qualify for the 5-year loan than the 7-year, since the rates is bumped up for underwriting purposes.
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