Are ARMs (adjustable-rate mortgages) worth the risk? First, let’s take a look at how ARMs work. Then, we’ll take a look at the numbers. What is an ARM (adjustable-rate mortgage)? I’ll go over what I consider the important things to know about ARMs. If you want all the details, here’s a great resource. With an … Read more
This meme about interest rates has been circulating around social media, at least among my real estate contacts. Don’t believe everything you see on the internet. Let’s do some analysis and see if there’s any truth to this meme. It suggests that paying a 7% interest rate at $30k under list price is better than … Read more
Homes have been flying off the market because the supply is so low and buyers greatly outnumber sellers in most markets. Many people are jumping into the market in hopes of becoming a homeowner before mortgage rates rise. Let’s say rates do rise a full 1 percent by the end of the year. How much … Read more