March 31, 2010

ARM Investigation

Filed under: money — by elysianconfusion @ 1:53 pm
Tags: , , ,

Well, I got my letter today with the new ARM rate for the next year.

And…. I was right! The value of the index was .39% plus 2.75% (my margin)… well, I think that equals 3.14. According to this letter, the new interest rate is 3.125%, so this time it has rounded down.

Last time it was .7+2.75=3.45, so my rate rounded up to 3.5.  That’s the nearest .125%

Anyway, this drops my mortgage payment by $38.65. I think I’ll just keep my regular payment :-).


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