ST Alpha - "Will, if you get an ARM I will fly there and punch you." (Reading a Post)

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Will, if you get an ARM I will fly there and punch you.

Posted by spamlet Jun 26 '13, 10:16

You don't get an ARM when rates are (still) at historic lows.

Responses:

You do if you have limited belief you'll be in the house in 5 yrs and the spread is 3/4 percent. -- nm - Will Hunting Jun 26, 10:27 11
- But keep in mind that rising interest rates might be a reason you don't move. If rates get high it makes buying someplace new much more expensive. I - pmb Jun 26, 10:45 1
  - yeah, I have learned that the best intentions rarely pan out..... - groiny Jun 26, 10:50
- Heh, we're in our starter home 12 years later. So are my parents. -- nm - spamlet Jun 26, 10:35 7
  - no shit, I can't wait for the day that I can get out of mine. - groiny Jun 26, 10:37 5
    - At this point we're just staying. - spamlet Jun 26, 10:40 4
      - I understand..... - groiny Jun 26, 10:43 3
        
        can you HARP? -- nm - amanda Jun 26, 10:45 2
        
        oh wait. you can't HARP with her credit rating and you can't HARP if you change the mortgagee, correct? -- nm - amanda Jun 26, 10:46 1
        
        when I applied, I was rejected. nm -- nm - groiny Jun 26, 10:48
  - your parents are in your starter home? -- nm - zork Jun 26, 10:36
- where will you move after that? -- nm - Don Homer Jun 26, 10:29
[deleted]
But... they could go lower! -- nm - Mop (190 lbs) Jun 26, 10:22 1
- they went up 50 basis points this week alone -- nm - charlie Jun 26, 10:27
Rising Mortgage Rates Cause 'Rush to ARMs' -- (link) - decline Jun 26, 10:18 6
- thanks - that confirms something I was about to say. I hadn't been paying close attention, but a consumer radio guy mentioned last weekend that rates - b. Jun 26, 10:26
- Maybe I misunderstand the concept, but getting an ARM in a rising rate environment strikes me as unwise. -- nm - Was Bar Was Jun 26, 10:21 4
  - because the rates are generally lower than a fixed-rate mortgage. - znufrii Jun 26, 10:24
  - Some argue that getting an ARM is never wise. - Strongbad Jun 26, 10:23 1
    - if you are only going to be in a house for 5 years, it makes perfect sense. nm -- nm - groiny Jun 26, 10:23
  - yup. nm -- nm - groiny Jun 26, 10:22

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Will, if you get an ARM I will fly there and punch you.

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