5 Year Adjustable Rate Mortgage Rates

 · A 5/1 hybrid adjustable-rate mortgage (5/1 hybrid ARM) begins with an initial five-year fixed-interest rate, followed by a rate that adjusts on an annual basis. The "5" in the term refers to the.By far the most common mortgage product in the United States is the 30-year fixed-rate, and the most common adjustable-rate variety is the 5/1.

Bankrate.com provides FREE adjustable rate mortgage calculators and other ARM loan calculator tools to help consumers learn more about their mortgages.

Arm Loans Explained Remember: The interest rate on the new loan must be lower than the rate on the old loan (unless you refinance an adjustable rate mortgage to a fixed-rate mortgage). To receive an IRRRL, work with your.

Top 5 Lowest 7-Year ARM Mortgage Rates How do you snag the lowest rates, especially if you plan on staying in your first home for seven years and are leaning toward the 7/1 adjustable rate.

WASHINGTON (AP) – U.S. long-term mortgage rates remained near historically low levels. 15-year mortgage was unchanged at 0.

Put simply, the 5/1 ARM is an adjustable-rate mortgage with a 30-year loan term that’s fixed for the first five years and adjustable for the remaining 25 years. So during years one through five, the interest rate never changes.

First off, you should know that the 5/5 ARM is an adjustable-rate mortgage. However, you get a fixed rate for the first five years of the loan term, just like a 30-year fixed. After that five years, the mortgage experiences its first rate adjustment, either up or down, based on the combination of the margin and the underlying mortgage index.

^