Review current interest only mortgage rates for September 16, 2019. Use the table below to compare interest rates, APRs, fees and monthly payments for three, five and seven year interest only loans. These mortgages are also called interest only ARMs or IO ARMs for short.
5 Year Adjustable Rate Interest Only**, 3.125%, 4.250%, 3.978%. 10 Year Adjustable Rate**, 3.250%, 4.250%, 3.761%. 5 Year Adjustable Rate No Closing Cost.
Mortgage rates valid as of 29 Aug 2019 09:31 am EDT and assume borrower has excellent credit (including a credit score of 740 or higher). Estimated monthly payments shown include principal, interest and (if applicable) any required mortgage insurance. ARM interest rates and payments are subject to increase after the initial fixed-rate period (5 years for a 5/1 ARM, 7 years for a 7/1 ARM and 10.
But what would happen to mortgage rates if the country’s benchmark interest rate dropped below zero? Denmark provides us with a clue. The Scandinavian country’s jyske bank began offering a 10-year.