General World News

ARMs race: adjustable-rate mortgages make a comeback

mortgage rates

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. But this year, as rates have crested 6%, about 70% of Neat’s originations are adjustable-rate mortgages, a product that until recently had fallen out of favor due to the role they played in the housing crash of 2008 and a decade-plus of fixed-rate mortgages under 5%.  

“It’s obviously not just a flip flop, it’s a pretty big move,” said Luke Johnson, the founder details ⇒

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