Monday, February 21, 2011
As an example, when I bought in Eastham, I knew that I was going to be selling my New York home in a few years and moving to Eastham. For us, the low 3/1 ARM rate made sense since we could simply pay-off the Eastham loan before the rates went up. Interestingly, at the end of my 3 year hold period, my rates floated down.
The Wall Street Journal's MarketWatch website had a very interesting article on this choice ...here.