Millions of US Homeowners Face Surging Mortgage Rates
TL;DR Summary
Millions of Americans with adjustable-rate mortgages could see their monthly payments nearly double as their loan terms end, with rates potentially rising from 3.5% to around 6.5%. With 30-year fixed-rate mortgages above 7%, United Wholesale Mortgage has introduced a zero-percent down mortgage program to help buyers, requiring repayment of a second mortgage when the first is refinanced or paid off.
Topics:business#adjustable-rate-mortgage#homeowners#interest-rate#mortgage-rates#real-estate#refinance
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- Hundreds of Thousands of Americans May See Mortgage Payments Double Newsweek
- US Homeowners With Adjustable Mortgages Face $1,000-a-Month Jump Bloomberg Law
- Possible mortgage crisis looms for millions KLAS - 8 News Now
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