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The Federal Reserve is now setting explicit "target rates" for inflation. Inflation targeting will change how you shop for mortgages.
The 2011 Refi Boom's Second Wave has started. 5-Year ARMs are leading the charge. Assuming discount points are paid, ARMs are now below 3 percent.
As the Refi Boom continue, not all rates are falling equally. Adjustable-rate mortgages are leading the charge.
Planning to move in the next few years? Get smart about it. Swap out the high-rate, 30-year fixed you're carrying and convert it to something more appropriate. Refinancing to today's rate might save you 40 percent on your monthly payments.
The 30-year fixed rate mortgage isn't such the no-brainer anymore. After thoroughly thumping the interest rates on an equivalent 5-year ARM since December, the 30-year fixed has reclaimed its honor as "Most Expensive Mortgage Product". The chart shows the difference as a half-percent, but real-life pricing puts it closer to 1.000%. Right now, adjustable rate mortgages are very attractive to the right type of homeowner
