Fixed And Arm Mortgages [mortgagecalculator-tips.blogspot.com]
www.calculated.com See how the Real Estate Master IIIx calculator by Calculated Industries can help residential real estate agents, brokers and loan professionals eaily solve for Adjustable Rate Mortgage (ARM) payments quickly, simply and accurately. Dedicated keys and a custom display speak in your language. Built-in functions for finding PI and PITI payments, ARMs, Bi-Weeklies, amortizations, APR and much more. A great tool for experienced and new agents alike, or any professional that needs to solve residential financing problems out in the field. This quick video briefly shows how easy it is to solve ARM payments and play "what-if" with all the loan variables. For more information or to find the dealer nearest you call 800-854-8075 or go to www.Calculated.com
mortgagecalculator-tips.blogspot.com Real Estate Master IIIx ARM Adjustable Rate Mortgage Loans How To
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Below we will discuss the different types of mortgage loans and some key points of each one. Before we begin that, we must address rates, a dynamic that transcends all different types of mortgage loans and affects them immensely.
Fixed Mortgages New Jersey
Over approximately the past four years, the average of 30-year fixed rate mortgage loans has remained below 6.5 percent. While Federal Reserve short term interest rate increases do have an affect on fixed mortgage rates, yields on long term government bonds and fixed rate mortgages are closely tied. Sub 6.5 percent rates will become a financial endangered species as rates move into the upper 6s in the second half of 2006 approaching the ten-year average of 6.9 percent.
However, borrowers are still favoring fixed rates mortgages New Jersey over adjustable rate mortgages because the difference in initial rates is not worth the risk; current 30-year fixed rate averages 6.34 percent, while a 5/1 ARM is 6.08 percent and a one-year ARM is 5.73 percent.
Adjustable Rates
The fluctuations of Adjustable Rate Mortgage loans New Jersey (ARM) are inexorably linked to short-term interest rates determined by the Federal Reserve. Since Ben Bernanke's takeover as Fed chairman, he continued to move short term interest rates upward to thwart possible inflation; most experts state that he will definitely error on the side of caution - raising rates higher in the foreseeable future. Borrowers already in an ARM mortgage should be bracing for a jump in their payments that in many cases will be quite substantial. The one year Treasury, a common index for adjustable rate mortgages, may top five percent by the time the Fed is done raising interest rates, add on the margin of 2.5 percentage points and many ARM borrowers will be looking at a rate of 7.5 percent. Depending on your loan balance and previous interest rate one simple adjustment can make your monthly payments much more of a burden. Find More Fixed And Arm Mortgages Issues
