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Mortgage rates and markets change constantly. Stay 100% current by taking The Mortgage Reports by email each day. Click here to get free email alerts, or subscribe to the RSS feed in your browser.
5-year ARMs in the 3s? 30-year fixeds in the 4s? Today is not "the new normal", folks. Don't fool yourself into thinking it is. Someday, our children will study the Summer of 2010 in their finance books. Rates may fall this week, but that doesn't mean you should gamble on it.
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.
