To: Malacoda
ARM’s still can’t adjust beyond their parameters - i.e., the margin and index. The only way this affects ARM rates is if the indexes like MTA, LIBOR, and COFI go up, and, if anything, they’ll probably go down once all this hubbub calms down.
33 posted on
08/10/2007 6:38:33 AM PDT by
RockinRight
(Fred's Campaign: A hell of an opening, coast for a while, and then have a hell of a close.)
To: RockinRight
You’re a voice a reason buddy! ;^)
39 posted on
08/10/2007 6:47:58 AM PDT by
DCPatriot
("It aint what you don't know that kills you. It's what you know that aint so" Theodore Sturgeon))
To: RockinRight
ARMs still cant adjust beyond their parameters - i.e., the margin and index. The only way this affects ARM rates is if the indexes like MTA, LIBOR, and COFI go up, and, if anything, theyll probably go down once all this hubbub calms down. How many of the ARMs' initial rates were far below their index rates, so that even if the market rates stay the same the mortgages' rates are guaranteed to go up? My first car loan was a variable one like that. The initial interest was 9% (decent for a kid still in college), then it jumped to 14% three months later because it was set to be some percentage above an index which had absolutely nothing to do with the initial 9%.
I have avoided variable rate loans since then.
45 posted on
08/10/2007 6:54:09 AM PDT by
KarlInOhio
(May the heirs of Charles Martel and Jan Sobieski rise up again to defend Europe.)
To: RockinRight
ARMs still cant adjust beyond their parameters - i.e., the margin and index. The only way this affects ARM rates is if the indexes like MTA, LIBOR, and COFI go up, and, if anything, theyll probably go down once all this hubbub calms down.
Yep.
63 posted on
08/10/2007 7:35:50 AM PDT by
VegasCowboy
("...he wore his gun outside his pants, for all the honest world to feel.")
To: RockinRight
ARMs still cant adjust beyond their parameters - i.e., the margin and index. And they usually have limits.
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