A Hello to ARMs

Tim Mislansky (chief lending officer at Wright-Pratt Credit Union Inc.) and Tracy Ashfield (CEO of Ashfield and Associates) have observed that adjustable rate mortgages offer better rates to those consumers who do not plan to reside in a property for more than 10 years. The trick, according to Mislansky, is to help the member avoid the "knee-jerk" negative reaction to the offer of an ARM. [9/17/14]