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If interest is up, that mortgage could be ARMed (access required)

Adjustable-rate mortgages are making a big comeback. At the end of the first week in May, 30-year conventional fixed-rate mortgages were sporting interest rates upward of 5.25%. In comparison, 5/1 adjustable-rate mortgages (ARMs) were being offered at interest rates near 3.5%, according to bankrate.com. In Ada County’s feverish home market, that difference in initial mortgage ...

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