October 27, 2023

Should you consider an adjustable-rate mortgage?

With mortgage rates at 7.67%, buying a home may not be the most financially viable option. The Mortgage Bankers Association reports that while the average 30-year fixed rate mortgage is at a high, the rate on the average 5-year adjustable-rate mortgage (ARM) actually went down to 6.33%. This has caused a surge in ARM applications, and is the highest since November 2022. Real estate experts explain the...

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