I’m so excited to share with you something I got in the mail the other day. No, it wasn’t a notification that Financial Samurai had won an award for being the best personal finance site. My site is too focused on understanding hard things to make us all rich to appeal to the masses.
Instead, I got something better. It was letter from my bank saying my adjustable rate mortgage interest rate is going up!
This is the first time I’ve ever received such a letter because, in the past, I would always refinance my 5-year ARM (my preferred ARM term) lower before the fixed period was up.
But with interest rates having moved up since I bought my house in 2014, the logical thing to do was keep holding it until the reset.