Check out the latest trends to see what kind of second home mortgage rate you might ... you want a fixed-rate or adjustable-rate mortgage (ARM). You often can get a better rate with an ARM ...
Check out today's ARM rates to see how rates are currently trending. What are current ARM rates? In December, 7/1 ARM rates and 5/1 ARM rates averaged around 6.53% and 6.69%, respectively ...
For example, a 5/1 ARM will have the same rate for the first five years, then can adjust each year after that—meaning the rate might go up or down, based on the market. An ARM isn’t for everyone.