arm: What are the Pros And Cons Of Adjustable Rate Mortgages? - 01/15/14 10:23 PM
What are the Pros And Cons Of Adjustable Rate Mortgages?
 

When you are in the market for a new home, you may be faced with numerous options for financing your home. One of the choices you will have to make is whether to apply for a fixed or adjustable rate mortgage.
In some cases, an adjustable rate mortgage may be your best option, but keep in mind, they are not the answer for everyone. Adjustable rate mortgages can be risky for some borrowers and it’s important to understand both the pros and cons.
When To Consider An Adjustable Rate … (0 comments)

arm: Don’t Let Confusion With Mortgage Jargon Cost You - 09/30/13 11:44 PM
Don’t Let Confusion With Mortgage Jargon Cost You
 
A recent study of US and UK home buyers, conducted by the London based Nationwide Building Society, found that more than 40% of people buying homes were confused by the jargon that lenders used to describe mortgages.
 
When it comes to taking out a mortgage on your home, could confusing mortgage jargon be costing you money and causing you to make ill-informed choices?
 
According to the study, only 31% of home buyers understood what the term “LTV” meant, an acronym that stands for “loan to value” and describes the ration … (0 comments)

arm: What's Ahead For Mortgage Rates This Week - May 6, 2013 - 05/05/13 11:59 PM
What's Ahead For Mortgage Rates This Week - May 6, 2013
 
Mortgage rates fell last week and approached or reached record low levels.
According to Freddie Mac, the average rate for a 30-year fixed rate mortgage (FRM) fell from 3.40 percent to 3.35 percent. Average rates for a 15-year FRM moved from 2.61percent to 2.56 percent.
Average rates for a 5/1 adjustable rate mortgage (ARM) fell to 2.56 from last week's average of 2.58 percent Discount points for last week's mortgage rates ranged from 0.7percent for 30 and 15 year FRM loans to 0.5 percent for a 5/1 ARM.
Rock-bottom … (1 comments)

arm: A Farewell to ARMs: Refinance Before Adjustable Rate Mortgages Reset - 03/07/08 12:14 AM
Since June of 2004, the Federal Reserve has systematically increased the federal funds rate, causing short-term interest rates to follow suit. As a result, consumers with Adjustable Rate Mortgages (ARMs) tied to volatile short-term rate indices, such as the LIBOR, are finding themselves at the mercy of the Federal Reserve's war on inflation.
"Higher interest rates function as a tax on people who hold variable debt," says Daniel Gross, reporter for The New York Times, a "truism that is particularly apparent to homeowners holding adjustable rate mortgages." In his article, Gross cites Mark Zandi, chief economist at Moody's Economy.com, who estimates that … (1 comments)

 
Joe Gonzalez, NMLS# 126036 (610) 739-6563 (CrossCountry Mortgage, LLC NMLS #3029) Rainmaker large

Joe Gonzalez

NMLS# 126036 (610) 739-6563

King of Prussia, PA

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CrossCountry Mortgage, LLC NMLS #3029

Address: 625 W. Ridge Pike, Building C, Suite 100, Conshohocken, PA, 19428

Office: 610.355.8039

Mobile: 610.739.6563

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