“Will someone who has an ARM PLEASE get out your loan docs and post what your index and margin are.
Then post what your current rate is and what your next reset cap is.
I’d like to find someone who is going to actually benefit the way some of you think.
We will see what the 1 year LIBOR does in the next few days.
Some people have margins that are 3-6% OVER the index.
Their reset rate is STILL BELOW THIS.
I think another thing that you might not realize is that some indexes are lagging averages, and slow moving indexes, and are not going to change 50 bps anytime soon.
There are some assumptions being made about ARMS that just aren’t true.
ANYBODY ??”
Good Post HLS.. let’s see some live and real examples of this. I know many are tied to a 12 month rolling average of the index, so it is slow moving. I am also curious to see how many margins are over 3% ..ouch !!
I have no loan products that fall into this category to post though ..sorry.
