Tag Archives: Good or Bad? ARMs Make a Comeback

Mortgage rates recently soared to a two-year high, prompting more borrowers to take a closer look at adjustable rate mortgages. Thirty-year fixed-rate mortgages have moved from below 3.5 percent as of late April to above 4.5 percent recently, increasing monthly payments for new home buyers. Meanwhile, ARM rates have stayed relatively steady in recent weeks between 2.7 percent and 3.1 percent, according to Bankrate. Adjustable-rate mortgages are often blamed for the housing bubble, luring buyers with their low introductory rates that later rise. Some home owners were not able to […]