Articles Tagged with ''ARM''

Borrowers flock to ARMs as interest rates rise

Mortgage closing rates hit highest point in 2018
As interest rates continue to increase, borrowers are increasingly utilizing adjustable rate mortgages. Here’s what the latest Ellie Mae report reveals about that and other dynamics of the mortgage lending market.
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LIBOR pushes ARM rates higher, borrowers brace for impact

Majority of increase yet to be felt
As home prices rise and interest rates increase, potential home buyers are not the only ones affected by the affordability changes. Homeowners who previously bought their home using an adjustable-rate mortgage are now seeing an increase in their monthly mortgage and interest payments, with more increases yet to come.
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First American: Fraud and misrepresentation grew in February

Rising rates bring increase in adjustable rate mortgages
First American released its monthly Loan Application Defect Index, which showed loans became more risky in February due to increasing interest rates and a move toward adjustable rate mortgages. What else is behind the rise in these riskier loans? Click the headline to read more.
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Navy Federal Credit Union, Freddie Mac target investors with 5/5 ARM

Plan to establish a “new and liquid market”
Navy Federal Credit Union announced Tuesday that it is partnering with Freddie Mac to offer a 5/5 adjustable-rate mortgage to large institutional investors. According to Navy Federal, the 5/5 ARM has a “history of growth and stability” with the credit union, and plans to grow the product moving forward.
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Waterstone Mortgage unveils zero-down, 20-year, adjustable rate 'wealth building' loan

Loan program designed by AEI's Stephen Oliner and Edward Pinto
The "Wealth Building Loan" requires no down payment, and offers eligible borrowers a 7/1 adjustable rate mortgage with a 20-year amortization. Waterstone said that the "Wealth Building Loan" also eliminates monthly mortgage insurance payments nearly four years sooner than a 30-year conventional loan with a 3% down payment.
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Freddie Mac: Hybrid ARMs are “hot”

Annual Adjustable-Rate Mortgage Survey shows impact of low interest rates
Hybrid adjustable-rate mortgages continue to be the most popular ARM loan product offered by lenders and chosen by borrowers, according to the 31st Annual Adjustable-Rate Mortgage Survey of prime loan offerings from Freddie Mac.
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