– The adjustable rate is either tied to the 1-year treasury index or to the one-year London Interbank Offered Rate (“LIBOR”), and is added to a pre-determined margin (usually between 2.25-3.0%) to arrive at your new monthly rate. Ask what the margin, life cap and periodic caps of.
Mortgage Rates Take an Uptick – And the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.14 percent this week, up from last week when it averaged 3.13 percent. In another mortgage data report, Bankrate.com.
U.S. mortgage rates a bit stagnant on mixed economic reports – 15-year frm averaged 4.00% for the week ending July 19, 2018 vs. 4.02% a week earlier. 5-year treasury-indexed hybrid adjustable-rate mortgage averaged 3.87%, up from 3.86% last week.