Looking at my mortgage statements the rates that I am paying for my homes are so backwards.
My primary residence loan is 30 year fixed at 6.75%. That should be a great rate! Even during 2005 people were saying, rates will never get that low again.
My investment condo in Utah has an investment loan which was an option ARM. It is now at 4.75%!!! Who ever heard of a rate that low for an investment.
My other condo which was a 2nd home has a 5/1 ARM is at 6.5%. If it were to reset today, it would drop to around 4%. I wish I had gotten a 3/1 ARM instead. Then I would have been paying 6.0% for 3 years instead of 6.5% and the rate would have reset last year and steadily dropped.
My unsecured line of credit is at 4.50% right now.
So it turns out that my unsecured line of credit is the lowest rate!
My investment property has the second lowest rate.
My 2nd home has the third lowest rate.
AND my primary residence loan has the highest rate.
100% totally backwards in terms of risk….