Quote:
Originally posted by lendaddy
No caps, but I can lock at any time. Indexed at .5% over prime.
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Gut feeling agrees with the ARM. With that big of a spread going fixed it will take awhile for it to be a loser - esp. if you see getting out in 3 years or so.
It has been going up, but it's a fairly slow Index. just up to 5.5% Your rate should be 6% at initiation.
rjp