I just got my notice about my mortgage payment on our condo (it's currently for sale). I was an idiot and got an ARM instead of a fixed mortgage so I could use a local bank. It's worked out in my favor though. When I bought the house, fixed rates were around 6.5%. I got an ARM at 5.25% for 3 years, then adjustable after that. After 3 years, my rate went up to 5.5% (adding a whopping 98 cents to the house payment because I was always making double payments because the payment was so low). Today's noticed told me my rate is going down to 5%! Dropping the payment by almost $60.
Now, if we could just sell it, I would be even happier...
Re: Sweet!