[quote=bearishgurl]brian, its been 25 years for me (taking out only ARM mtgs). I feel I HAVE saved a lot of money over the years since I never had a need for “serial refinancing” (for a rate reduction) OR “cash out.”
However, since I believe I have a low lifetime cap of 2.7%, I’ll never see a low of 2% with my current mtg (assuming fixed rates ever go that low).
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Happy holidays, Piggs! I’ve been “swamped” lately :=D[/quote]
I never knew there’s a lifetime limit. Brian, how can your friend enjoy these new low rates if they got an ARM 20 years ago without refinancing?
