“Rapidly rising interest rates have been driving a growing number of home buyers to adjustable rate mortgages, which have grown from a 3.4% share of all conforming home loans in December 2013 to a recent high of 9.9% in March 2014,” HousingWire.com reports.
Read the HousingWire.com report: 3 reasons borrowers fare well with ARMs.
The HousingWire.com report gives 3 reasons for ARMs becoming increasingly popular:
- Today’s ARMs are safer and smarter.
- Borrowers are smart and informed.
- ARMs are sensible alternatives to rising interest rates.
Does an adjustable-rate mortgage make sense for you?
If you are weighing the pros and cons of an adjustable-rate mortgage, we would appreciate the opportunity to help you. Contact us at your earliest convenience, and one of our loan consultants would be happy to assist you.