Interest rates have dropped again? First loan Fixed-Rate, which ARM chooses best to save you money?-Foodie Squad

Last week, the US long-term mortgageThe loan interest rate is lowered again。其中，30年按揭利率从2.87%下降到2.81%，在今年内第十次达到新的史低。作为比较，2019年30年按揭的平均利率是3.69%。另外，15年按揭利率也从2.37%降到2.35%。

The long-term mortgage mentioned here is actuallyFixed-Rate Mortgage.Fixed annual interest rateLong-term mortgage.This is one of the two main types of mortgages in the United States.Another type of mortgage isVariable interest rateLong-term mortgage, which is what we often sayARM (Adjustable-Rate Mortgage).

Maybe when you search for mortgage information, you will see some articles introducing: Choose ARM's mortgage method, you can get it in the early stageRelatively low initial interest rate, Also easy to borrowHigher loan amount.When we choose a mortgage, we should really choose for the low interest rate in the early stage.Later interest rate fluctuationsARM mode?Which kind of loan is more economical?

BOA's ARM detailed list

In addition to choosing the type of mortgage, novices like me will find a problem when comparing different mortgages for the first time.In the detailed list of mortgages, in addition to their ownInterest RateIn addition, there is a percentage——APR (Annual Percentage Rate).

Morgan Home Funding's loan comparison list

The most disturbing thing is that the annual interest rate and the mortgage interest rate are not the same or even higher.Why are there two interest rates for the same mortgage?Which one should be used to compare and choose?

This year’s low mortgage interest rate has attracted small partners who have not yet started mortgages, and friends who already have mortgages have also moved their minds: Can you take advantage of the low interest rates and passRefinanceHow about a more cost-effective mortgage?Of course there is no problem with this kind of thinking, but it still needsMore detailed understanding and calculationTo get an answer.The first step is to calculate clearly, except for heavy loansApplication fee for new loans和Early payment penalty for existing loansBesides, what elseUpfront expenditure.

Whether you are a mortgage newcomer or a mortgage "OG",

If you faceFixed Rate和ARMAt a loss,

If you faceInterest Rate和APRConfused,

If you want bargain interest ratesRefinance.But don't want to make decisions blindly.

October 10, 22pm (PDT)OfFree online seminar

AAA Capital InvestmentsRebecca Chen

Detailed popular science mortgage interest rate model

Help you answer all doubts

(Rebecca’s last lecture on heavy lending and the low interest rate environment was very well received

Looking forward to her return this time! )

???? Scan the QR code to join the lecture immediately ????