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Home buyers betting on falling mortgage rates face higher payments

MarketWatch reports that refinancing is unavailable for many homeowners, leaving them with “financially unsustainable” mortgage payments.

Reported · Written up by our desk · Mortgages

More than 70% of recent home buyers were relying on mortgage rates to fall, but many now face higher ongoing costs, according to MarketWatch.

The outlet reports that refinancing to a lower rate is not an option for many homeowners, limiting their ability to reduce payments.

As a result, some households are dealing with mortgage payments described by the outlet as “financially unsustainable.”

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