Rates have risen over the last couple weeks. What should you do as a homebuyer? Keep looking for homes! We would not recommend ‘waiting it out.’ Instead, maybe it’s time to look at Adjustable Rate loans. We won’t always recommend an ARM compared to a Fixed Rate loan, but, there are cases where it makes sense and can save you money. For example, if you know for sure that you’ll only be in the home for 5 years or less, then an ARM could be a wonderful option to get a lower rate with the plan of selling before that initial fixed period is over.
Give us a call to see if an ARM is the right move for you!