The housing market always goes through its ups and downs. During the pandemic, homeowners and homebuyers alike were able to benefit from record-low interest rates. Now, as inflation continues to soar and the Federal Reserve raises rates to offset the climb, the market is cooling down.
The combination of higher home prices and rising interest rates are forcing many would-be homebuyers out of the market. While conventional fixed-rate mortgages reign king during periods of low rates, other home loan options shine in uncertain markets. One of these loans is an adjustable-rate mortgage or ARM.
With the ability to lock in lower introductory rates, ARMs are making a comeback. Is an adjustable-rate mortgage the right solution for you?