this post was submitted on 15 Jul 2023
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We just bought a house and went with a 5 year ARM instead of 30 year fixed to get a 5.5% rate. Sure hoping that rates go down a little in the next 5 years so we can refinance and lock in at a decent fixed rate. Rolling the dice... : (
My condolences. It's a very tough time to be stuck with a mortgage.