The article (written by former NC Timeser Zach Fox) also has some good commentary about how the option ARMs may be less of a big deal than anticpated, but “regular” ARMs could be a big problem if interest rates rise.
Funny that is in line with my long held belief that NCC would bottom around 2012 because the loan of choice around here between 2004 and 2007 was the 5/1 ARM not the Option Arm. With rates as low as they have been many of thosde have been refi’d away or the adjustment has resulted in a lower payment. If rates jumped above about 7.5% in the next couple years that could cause some pain around around here and knock a few more apples off the cart.
Funny that is in line with my long held belief that NCC would bottom around 2012 because the loan of choice around here between 2004 and 2007 was the 5/1 ARM not the Option Arm. With rates as low as they have been many of thosde have been refi’d away or the adjustment has resulted in a lower payment. If rates jumped above about 7.5% in the next couple years that could cause some pain around around here and knock a few more apples off the cart.
Funny that is in line with my long held belief that NCC would bottom around 2012 because the loan of choice around here between 2004 and 2007 was the 5/1 ARM not the Option Arm. With rates as low as they have been many of thosde have been refi’d away or the adjustment has resulted in a lower payment. If rates jumped above about 7.5% in the next couple years that could cause some pain around around here and knock a few more apples off the cart.
Funny that is in line with my long held belief that NCC would bottom around 2012 because the loan of choice around here between 2004 and 2007 was the 5/1 ARM not the Option Arm. With rates as low as they have been many of thosde have been refi’d away or the adjustment has resulted in a lower payment. If rates jumped above about 7.5% in the next couple years that could cause some pain around around here and knock a few more apples off the cart.
Funny that is in line with my long held belief that NCC would bottom around 2012 because the loan of choice around here between 2004 and 2007 was the 5/1 ARM not the Option Arm. With rates as low as they have been many of thosde have been refi’d away or the adjustment has resulted in a lower payment. If rates jumped above about 7.5% in the next couple years that could cause some pain around around here and knock a few more apples off the cart.
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