As housing costs have soared, more homebuyers are succumbing to the temptation of a riskier loan with a lower mortgage rate.
The post Homebuyers Can Still Get a Mid-6% Mortgage Rate—There’s Just One Big Catch appeared first on Real Estate News & Insights | realtor.com®.
The average rate on ARMs—6.5% to 7.21%, depending on the loan—is nearly equivalent to the average 30-year fixed rate of 6.95% as of July 5, according to Bankrate.
The post The Money-Saving Mortgage That Isn’t Working Right Now appeared first on Real Estate News & Insights | realtor.com®.
Demand for mortgages fell 8.8% in the latest week as rates rose for the first time in more than a month.
The post Mortgage Demand Drops Sharply as 30-Year Mortgage Rate Rises appeared first on Real Estate News & Insights | realtor.com®.
About 43% of homebuyers with an ARM regret taking out the loan. The mortgage has a low introductory rate that goes up and then adjusts over time.
The post Almost Half of Homebuyers Who Took Out an Adjustable-Rate Mortgage Regret Doing So appeared first on Real Estate News & Insights | realtor.com®.
More borrowers are turning to adjustable-rate mortgages to save money as interest rates climb.
The post Share of ARM applications hits highest percentage in 15 years appeared first on Atlanta Agent Magazine.
More homebuyers are applying for adjustable-rate mortgages, a key driver of the Great Recession. Is this a sign of the next housing crash?
The post Up in ARMs: As Home Prices Grow, Risky Adjustable-Rate Mortgages Are Making a Comeback appeared first on Real Estate News & Insights | realtor.com®.
Mortgage payments that grew more expensive over time were one of the culprits of the mid-2000s housing bust. Now one of those loans is staging a comeback.
The post Why More Homebuyers Now Are Turning to This Much Riskier Type of Mortgage appeared first on Real Estate News & Insights | realtor.com®.
Mortgage payments that grew more expensive over time were one of the culprits of the mid-2000s housing bust. Now one of those loans is staging a comeback.
The post Why More Homebuyers Now Are Turning to This Much Riskier Type of Mortgage appeared first on Real Estate News & Insights | realtor.com®.