3/1 ARM
3/1 ARM
A 3/1 ARM (adjustable-rate mortgage) has an initial interest rate that remains in effect for three years, after which time the rate is adjusted once annually. The "3" of "3/1" refers to the number of years the initial rate will apply; the "1" refers to the time interval between subsequent rate adjustments.
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National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed |
4.39 |
| 5/1 ARM | 3.69 |
Rates may contain points
