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7/1 ARM Mortgage Rates in New Mexico

Updated: February 21, 2019

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

4.935%

APR
7 Year ARM
4.250% Rate $984/mo
  • Updated February 21, 2019
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PRODUCTS RATES +/-
30 Year Fixed 4.48%
15 Year Fixed 3.75%
5/1 ARM 4.17%
Thursday, February 21, 2019

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Mortgage rates for New Mexico go up to 4.48%

Thursday, February 21, 2019

Mortgage rates for New Mexico on Lender411 for 30-year fixed-rate mortgages are at 4.48%. That increased from 4.42% to 4.48%. The 15-year fixed rates are now at 3.75%. 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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