Pelican Parts Forums - My name is Terry and I have a 3 yr ARM mortgage

Pelican Parts Forums (http://forums.pelicanparts.com/)

- Off Topic Discussions (http://forums.pelicanparts.com/off-topic-discussions/)

- - My name is Terry and I have a 3 yr ARM mortgage (http://forums.pelicanparts.com/off-topic-discussions/366322-my-name-terry-i-have-3-yr-arm-mortgage.html)

I'd probably wait and see what happens with rates. We are entering an election year and even though the fed does not set the rates, it has many ways to influence the economy, eventually affecting rates.

If you want to stay in the home then do whatever to get the principal amount down. Keep watching the rates and get ready to jump when a decent fixed rate deal comes along.

Quote:

Originally Posted by onewhippedpuppy (Post 3472969)

Around here, I'll be shocked if we see any significant impact. Even in the peak of the bubble days, we never saw more than 3-6% appreciation (depending on area of town). There wasn't big money to be made by speculating, but not much risk either. Forclosures are up and rental occupation is at record highs, but our market hasn't really stumbled. We've seen good population growth in the last few years, I think that has helped make up for the forclosures.

You'll never make it in the media. Far too positive--and realistic. There are ups and downs in any market. A little patience goes a long way.