A new report from Bloomberg shows interest rates could as much as double for more than a million Americans who've turned to adjustable rate mortgages since 2019 to buy a house.
Mr. Suber and his wife Melanie, another realtor with EXP Realty, say this makes it a buyer's market, which also means higher interest rates. And they say for the more than 1.7 million Americans who took on adjustable-rate mortgages around the same time, now those rates are about to roll over. "It can be very stressful when you're dealing with financial matters hanging out over you and you know, they're not easy problems to resolve," Springerley said.
Source: Loan Digest (loandigest.net)
Mortgage Rates Interest Rates Americans Market Suber Buyers Homebuyers
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