Thursday, December 01, 2011

One-Year ARMs Fall to Historical Low

The rates for one-year ARMs fell today to 2.78% this week, which sets a new record all-time low for the series going back to 1986.  To purchase the median priced existing home at $162,500 in October with a 20% down payment and a one-year ARM at 2.78%, the monthly payments for the first year would be only $532.78 for principal and interest on a before-tax basis, and less than $400 per month after taxes.  

2 Comments:

At 12/01/2011 6:02 PM, Blogger Benjamin said...

The inflation is killing us!

The Fed must fight inflation!

 
At 12/02/2011 10:11 AM, Blogger Hydra said...

Time to refinance.

I wonder what these will adjust to?

 

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