Thursday , August 11 2022

Adjustable-Rate Mortgages Surging In Popularity In US

As interest rates continue to surge, more homebuyers are seeking ways to lower their mortgage payments. Adjustable-rate mortgages, or ARMs for short, are one tool homebuyers are considering to reduce costs, however, they do not come without risk. The rates adjust after the introductory period, going up or down. But today’s ARMs are different from the ones popular before the housing crash of 2008 – they limit how often mortgage rates may be adjusted and have caps on annual increases.

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  1. People are Cray-cray for this!!! Don't do it people!!!

  2. This is scary especially with the recession coming in.

  3. Big mistake. Balloon payments to follow

  4. This sounds bad. Stay with 30yrs fixed mortgage people.

  5. I was in my early 20's when I bought my first house, took out a 30 year loan with an adjustible-rate mortgage.I was soooo happy because my house was brand new! It was a big mistake because shortly after that the market crashed and the job I was on gave everyone a pay cut. My new house was worth half of what I paid for it 6 months later. I look back now and realize that my prior financial mistakes shaped my future outlook on money. I wanted to cry back then but this country boy from the hood regrouped and became a millionaire. If you can dream it, you can achieve it. Zig Ziglar!

  6. Oh man this is scary, this is one of the reason why the market crashed in 08.

  7. Those "assets" people are buying will become an albatross when the realize that house they paid 1.4 million dollars for, is only worth about $780,000 and they will lose everything when they try to sell it

  8. Mortgage company owner "this doesn't concern me " ROTFLMAO

  9. Extremely dangerous and risky. 30 year fixed mortgage rate is the way.

  10. OMG. I have seen SO many homeowners not able to make adjusted mortgage payments only to lose their homes, credit, and dignity. I stayed away from it and am happy to have done so.

  11. Another 2008 on its way

  12. The best thing is that we all know that this will end well

  13. Save that $300 for a rainy day. After 10 years rates will probably still be high.

  14. I’m old enough to remember people saying what she said in 2008.
    Maybe this version will help people instead of breaking them. The nice man said as much. Why would he lie?

  15. I worked in mortgages. ARMs are scary. Would never get one no matter how desperate I was.

  16. This is what caused the economy to collapse on 2008. Arm’s should be outlawed.

  17. My greatest happiness is the $32,000 bi-weekly profit I get consistently despite the economic fluctuation…

  18. Never get an adjustable mortgage. You will eventually get screwed. Fixed rate only

  19. When others tell you that it’s not 2008 2.0 but the # of ARM (fluctuating interest) loans keep going up in frequency because everyone wants a house 🤷🏻‍♂️….crash baby, crash! ❤️

  20. This makes me laugh Biden his family the rich and the rest of the politicians they’re living good they have no problems paying for gas giving millions or billions to Ukraine Maui suffer and we have homeless veterans in the USA sad And it’s funny the rich and politicians don’t fight in wars Knouff said

  21. Here we go again 🤦

  22. Bible clearly said:
    By the end of world very soon from nowadays, Gog and Magog (Russia) surely will encicle and attack massively Israel land with a huge number of troops supported by foreign backers! Believe it

  23. Didn't people learn from 2008, here we go again!……..That is why I am saving my money and buy a house dirt cheap when people start loosing them!

  24. Everybody is happy with their ARM, until the rates go up.

  25. why on earth would you want an adjustable rate? especially when the fed is going to continue to keep raising them.

  26. Even with war added to Brandon’s long list of failures, his voters still justify and support his spineless incompetence.

  27. I talked to a realtor about a home she sold. She told me it was the fifth time the home sold in 3 years. ARM was behind the defaults, they took the money and kept the asset which is a good deal for them but screws everyone else, especially first timers that will never get a second chance to not be dupped. To clarify this was during the last housing crisis.

  28. Seriously, we learned nothing from the 2008 financial meltdown of the housing market and how Wall Street used Adjustable Rates in mortgages to screw people who couldn't actually afford those homes. I honestly am beginning to believe America needs to die off, we are too dumb as a culture to remember one of our biggest mistakes and it was just 15 years ago…

  29. this is why nobody trusts you. You will hide the truth for an agenda you became China

  30. Took to her later about the arm

  31. An ARM is just a horrible move that will lead many to Bankruptcy!!!