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7/1 ARM Mortgage Rates in New Mexico

Updated: November 30, 2020

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

PRODUCTS RATES +/-
30 Year Fixed 3.00%
15 Year Fixed 2.56%
5/1 ARM 4.56%
Monday, November 30, 2020

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Mortgage rates for New Mexico go down to 3.00%

Monday, November 30, 2020

Mortgage rates for New Mexico on Lender411 for 30-year fixed-rate mortgages are at 3.00%. That dropped from 3.00% to 3.00%. The 15-year fixed rates are now at 2.56%. The 5/1 ARM mortgage for New Mexico is now at 4.56%.

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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