Tag Archives: More Luxury Home Buyers Opt for ARMs

Once blamed as one of the culprits behind the flood of foreclosures in recent years, adjustable-rate mortgages are back and rising in popularity, particularly among luxury home buyers, The Wall Street Journal reports. ARMs are offering super low interest rates—at least for a certain period—compared to fixed-rate mortgages that are tempting home buyers once again. ARMs can have a fixed-rate mortgage rate for a certain number of years, such as five or seven years, before they start fluctuating with the market and the monthly mortgage payments start rising. For home […]