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Refinance > 3 year adjustable (ARM)
The following information is about 3 year adjustable (ARM).
3 year adjustable (ARM) Defined
A loan with a fixed rate for the first 3 years that has a rate that changes once each year for the remaining life of the loan. Because the interest rate can change after the first 3 years, the monthly payment may also change.
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United Western Bancorp, Inc. Reports Sale of Mortgaged-Backed Securities
Published July 1, 2009, 3:00 pm, Business Wire via Yahoo! Finance
DENVER----United Western Bancorp, Inc. , a Denver-based holding company whose principal subsidiary, United Western Bank® , is a community bank focused on expansion across Colorado's Front Range market and selected mountain communities, today announced that the Bank sold mortgage-backed securities with an unpaid principal balance of $47.3 million of lower tranche mortgage backed securities ...
Mortgage Applications Decrease in Latest MBA Weekly Survey
Published July 1, 2009, 1:54 pm, RISMedia Real Estate News
RISMEDIA, July 2, 2009-The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending June 26, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 444.8, a decrease of 18.9% on a seasonally adjusted basis from 548.2 one week earlier. On an ...
Mortgage Rates Drop for Second Straight Week
Published June 30, 2009, 1:54 pm, RISMedia Real Estate News
RISMEDIA, July 1, 2009-The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.48%, down from 5.58% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com®. Meanwhile, rates for 15-year fixed mortgages fell to 4.87% from ...
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