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Several adjustable rate mortgages,
ARMs, are available to homeowners and they include 6-Month Certificate
of Deposit ARM, 1-Year Treasury Spot ARM, 6-Month Treasury Average ARM,
and the 12-Month Treasury Average ARM. An ARM that reacts quickly to
the market will allow the borrower to benefit from falling interest
rates. An ARM that lags behind the market will allow the borrower to
take advantage of lower rates when rates being to increase. As a
borrower it is important to watch the market and speak with your
mortgage broker to decide which type of ARM will best fit your home
loan needs.
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