Home›Real Estate›Mortgages›First adjustable-rate mortgage resets arrive as borrow…

First adjustable-rate mortgage resets arrive as borrowing rates are higher

CNBC Real Estate reports the resets involve adjustable-rate mortgages that began with low introductory rates but are now adjusting for the first time at a higher-rate environment.

Reported · Written up by our desk · Mortgages

CNBC Real Estate reports that adjustable-rate mortgages with low introductory interest rates are beginning their first payment adjustments.

The outlet says the resets are arriving when mortgage rates are much higher than during the loans initial period.

According to CNBC Real Estate, new data shows thousands of homeowners are facing these adjustable-rate mortgage resets and potentially higher monthly payments.

More like this

Sources