Is your mortgage scheduled to adjust this season? You may want to let it.
When jobs come back, analysts say, so does the economy. That should push mortgage rates higher.
At 8:30 AM ET Friday, the government’s Bureau of Labor Statistics will release its November Non-Farm Payrolls report. Have you been floating a mortgage rate? It may be time to lock.
If your ARM is due to adjust this spring, your best move may be to let it. Don’t rush to refinance — your rate may be adjusting lower.
Currently, relative to fixed rate mortgages, ARM pricing is excellent. Freddie Mac’s weekly Primary Mortgage Market Survey puts the 5-year ARM mortgage rate lower than the 30-year fixed rate mortgage rate by 1.02 percent.