Justin Perry's Mortgage Blog

There are billions of dollars in adjustable rate mortgages that are going to adjust in 2007 and billions more in 2008.  Right now a 30 year fixed rate mortgage offers the same rate as a 3/1 adjustable rate mortgage.   Many people are sitting back and waiting until the very month that their mortgage loan adjusts - don't!  It is very likely that you can get yourself into a 30 year fixed rate mortgage today without even changing your monthly payment.  Keep in mind that if you wait until your rate adjusts, you will still have to pay about a month's worth of interest at the new rate which in some cases is about 2 to 3 percentage points higher. 

Call your mortgage professional today to see if you could be saving hundreds of dollars a month on your mortgage.