A client had an adjustable loan for $1,500,000, which she obtained 10 years ago. She received it with stated income and was not currently qualified for refinancing into a fixed rate.
We suggested that she should not worry since after a fixed period is over, her adjustable rate will be even lower than what she is currently paying. The rates might go up, but it will not happen overnight. Meanwhile, enjoy what you have and pay more off if you can.
Cheers,
