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7/1 ARM Mortgage Rates in New Mexico

Updated: June 19, 2019

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Displaying rates for Mortgage Refinance in NM for $200,000

4.825%

APR
7 Year ARM
3.875% Rate $940/mo
  • Updated June 19, 2019
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PRODUCTS RATES +/-
30 Year Fixed 3.91%
15 Year Fixed 3.38%
5/1 ARM 4.17%
Wednesday, June 19, 2019

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Mortgage rates for New Mexico go down to 3.91%

Wednesday, June 19, 2019

Mortgage rates for New Mexico on Lender411 for 30-year fixed-rate mortgages are at 3.91%. That dropped from 4.24% to 3.91%. The 15-year fixed rates are now at 3.38%. The 5/1 ARM mortgage for New Mexico is now at 4.17%.

7/1 ARM Mortgage Rate Explained

7/1 ARM is an adjustable rate mortgage where the interest rate on the loan remains constant for the first 7 years. After that the rate will change based on its "margin" and "index" . Above you will find 5/1 ARM refinance rates for national and local lenders in New Mexico. 

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