What Is The Current Index Rate For Mortgages Historical Mortgage (ARM) Index Data: CMT(TCM), MTA(MAT. – A searchable database of historical mortgage (ARM) index values. Mortgage-X.com compiles historical values for the indexes which are the most widely used on adjustable rate mortgages (ARMs).
Definition: A 3 Year ARM is a loan with a fixed rate for the first three years that has a rate that changes once each year for the remaining life of the loan. Because the interest rate can change after the first three years, the monthly payment may also change. A 3 year ARM, also known as a 3/1 ARM.
3.07% a week earlier and 3.98% at this time a year ago. 5-year Treasury-indexed hybrid adjustable-rate mortgage averages 3.32% vs. 3.35% a week earlier and 3.82% at this time a year ago.
What Is A 5/1 Arm Adjustable-Rate Mortgage – ARM: An adjustable-rate mortgage (ARM) is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan.
3 Year ARM Program Highlights Low introductory rate for first three years. Loan sizes will vary by institution. Many have 2/2/6 caps which means the initial rate can not go up or down more than 2% at. Indexes will vary but may include LIBOR or Treasury. Be sure to ask to details.
3/1 ARM (3 year ARM)- the rate is fixed for a period of 3 years after which in the 4th year the loan becomes an adjustable rate mortgage (ARM). The adjustable rate is tied to the 1-year treasury index and is added to a pre-determined margin (usually between 2.25-3.0%) to arrive at your new monthly rate.
How 3/1 ARM Rates Stack Up Against Other Mortgage Rates. A 30-year fixed-rate mortgage at 3.9% would cost you roughly $849 per month. Let’s say that after the initial three-year period ends, the rate on your 3/1 arm increases by 2% to 5.1%. A 2% increase is a common number you’ll see with 3/1 ARMS.
For comparison purposes, a 3-year adjustable rate mortgage of $200,000 with a 20% down payment at an APR of 5.214% with 0.250 discount points and a $985 origination fee with a credit score of 740 would result in 36 equal payments of $983.88 and 324 equal payments of $1109.25.
3/1 Year ARM Mortgage Rates 2019. Compare Virginia 3/1 Year ARM Conforming Mortgage rates with a loan amount of $250,000. Use the search box below to change the mortgage product or the loan amount. Click the lender name to view more information. mortgage rates are updated daily.
Property type: Single-family home in Tiburon. Appraised value: .5 million. loan amount: .3 million. Loan type: Jumbo 10-year adjustable-rate mortgage. Rate: 3.875%. APR: 3.9%. Past clients of mine.
. rate for five-year adjustable-rate mortgages fell to 3.32% from 3.35% last week. The fee was steady at 0.3 point.