5/1 ARM

5/1 ARM

A 5/1 ARM (adjustable-rate mortgage) has an initial interest rate that remains in effect for five years, after which time the rate is adjusted once annually. The "5" of "5/1" 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 Year Fixed   6.05
15 Year Fixed   5.73
5/1 Adjustable   5.78

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