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Jessica took a 3/1 ARM for 30 years with monthly payments. Her teaser rate was 4.5%, and the interest rate is indexed to 1 year

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Jessica took a 3/1 ARM for 30 years with monthly payments. Her teaser rate was 4.5%, and the interest rate is indexed to 1 year CMT rate with a 2.5% margin. At the beginnina of year 4 of her mortgage, the 1 year CMT is 2%. At the time of the first reset Jessica's payment will Increase Decrease Impossible to determine Stay the same

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