An adjustable-rate mortgage can save money for the right borrower, but only when the initial savings, timeline, and future payment risk all fit the plan.
With interest rates as high as they are consumers want adjustable-rate mortgages for payment relief. If you’re thinking about an adjustable-rate mortgage versus a fixed-rate mortgage here are some things, you need to be aware of… The first few years of the mortgage loan are called a teaser rate. A teaser rate is short-term and…