• Uncategorized
  • Dec 5, 2016
  • No Responses
  • Print This Post

Adjustable rate mortgages

eskova-main-osThe interest rate of every ARM is designed to go up. Yes, it can also go down, but lenders are hoping it will go up so they’ll make more money. The industry term for the initial interest rate of an adjustable rate mortgage is a “teaser rate” because the lenders are teasing you with an interest rate that they know will probably go up in the future.

Leave a Reply