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MikeyC · 08-26-2010, 02:12 PM

I picked up a rate sheet from a local bank this morning and it lists a 30 year fixed at 4.25%. The rates really are unbelievably low.

I refinanced a couple of months ago and got 3.75% on a 5-1 ARM. Normally, I'd get a 30 year fixed, but there's no way we're staying in our condo more than 5 more years (the period for which the rate will remain at the current rate). So, it makes sense for me to go with an ARM and get the lower rate.

08-26-2010, 02:12 PM	#14
MikeyC member of the CA MINYAN Join Date: Oct 2008 Location: Somewhere out there Posts: 1,782 Trading: (11)	Re: Refinance I picked up a rate sheet from a local bank this morning and it lists a 30 year fixed at 4.25%. The rates really are unbelievably low. I refinanced a couple of months ago and got 3.75% on a 5-1 ARM. Normally, I'd get a 30 year fixed, but there's no way we're staying in our condo more than 5 more years (the period for which the rate will remain at the current rate). So, it makes sense for me to go with an ARM and get the lower rate. __________________ I think Pandora's box was actually a humidor!