How adjustable-rate mortgages could backfire on homeowners
Many Americans took advantage of historically low mortgage rates during the pandemic. But for homeowners who opted for adjustable-rate mortgages, those savings might not last. As mortgage rates continue to remain elevated, hundreds of thousands of borrowers are soon nearing the end of their introduc...
Many Americans took advantage of historically low mortgage rates during the pandemic. But for homeowners who opted for adjustable-rate mortgages, those savings might not last. As mortgage rates continue to remain elevated, hundreds of thousands of borrowers are soon nearing the end of their introductory fixed-rate periods, putting them at risk of higher monthly payments.
This story was originally published by cnbc.com. Use the link below to read the full article at the source.
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