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.
National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.93 |
| 15 yr fixed | 4.38 |
| 5/1 ARM | 3.79 |
Rates may contain points
