1.7 million US homeowners face higher monthly payments due to adjustable-rate mortgage (ARM) rate increases.
Thousands of homeowners are facing higher monthly payments due to adjustable-rate mortgages (ARMs). These loans offer a low introductory rate for a fixed initial period, but after this period, the interest rate adjusts based on current market conditions. As mortgage rates increase, many ARM loan holders experience significantly higher monthly home payments, with 1.7 million U.S. homeowners potentially affected.
July 01, 2024
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