An ARM is currently at 3.25% and set to adjust. The index is currently at 1.125% and the margin has been established at 4.25%. To what will the borrower’s interest rate adjust?
A. 7.5%
B. 5.375%
C. 4.375%
D. 8.625%
Answer:B
An ARM is currently at 3.25% and set to adjust. The index is currently at 1.125% and the margin has been established at 4.25%. To what will the borrower’s interest rate adjust?
A. 7.5% B. 5.375% C. 4.375% D. 8.625%