What is the current 5 year ARM?
What is the current 5 year ARM? A 5/1 adjustable rate mortgage (5/1 ARM) is an adjustable-rate mortgage (ARM) with an interest rate that is initially fixed for five years then adjusts each year....ProductInterest rateAPR5/1 ARM1.990%2.488%3/1 ARM2.917%3.555%30-year fixed-rate FHA2.275%3.015%30-year fixed-rate VA2.523%2.807% How much can a 5'1 arm increase? A 5/1 ARM, for example, might have a cap structure of 2-2-6, meaning that in year six (after the five-year introductory period expires), the interest rate can increase by 2%, in subsequent years the interest rate can increase by an additional 2% per year, and the total interest rate increase can never...