. While it may not get the rate as low as you'd like , it could still save you money over the long term. Just make sure that you're planning on staying in the home long enough to recuperate the points costs. Otherwise, it may not be beneficial for you.is exactly what its name implies: a mortgage with an interest rate that will adjust over time. This could be exactly what you need now if it means a lower rate to start.
Just be careful because rates on these types of mortgages assuredly will rise again in the future, potentially making your mortgage payment more cost-prohibitive. Do your research on this option before signing on the dotted line.With mortgage interest rates as high as they are currently, any pause in increases is good news, even if it's not as positive as a rate drop. So, if you were waiting for a time to act, now be as good as any .
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