Periodic rate cap

Periodic rate cap

A periodic rate cap is a limitation on how much an interest rate can be adjusted from one period to the next. Periodic rate caps are important to holders of adjustable-rate mortgages (ARMs); higher caps increase the possibility that the loan payments will rise beyond affordability at one adjustment.

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National Rates

Loan Type Today
30 Year Fixed   5.90
15 Year Fixed   5.65
5/1 Adjustable   6.01

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