my index should continue to fall and is not projected to rise above what it is now until sometime in early 2016!
I wanted to sell in 2014 when I’m planning on moving but if mortgage-x’s prognostications are true, this will give me more time to wait the market out (at a very, VERY low mortgage interest rate) for a higher sales price while renting it out!
I’ve enjoyed a tremendous run of downward adjustments for several years without even having to spend ONE DIME on refi!!
I’ve had these types of ARMSs since the eighties and have NEVER had this long and deep of a period of downward adjustments …
It’s AWESOME!
Folks, contrary to what the MSM would have us believe, OPTION ARMs are NOT EVIL. They are GOOD … that is, if you are a PRIME borrower who CHOOSES to AMORTIZE every month. (My current purchase money transaction cost only $2800 out the door to close.)
