Adjustable-rate mortgages, or ARMs, are home loans with fluctuating interest rates. The main difference between adjustable- and fixed-rate mortgages is that fixed-rate mortgages keep the same rate for ...
Discover how mortgage interest works, how it's calculated, and the differences between fixed-rate and adjustable-rate loans. Learn tips to secure lower interest rates.
Key Takeaways Approximately 10% of borrowers in September took out an adjustable-rate mortgage to purchase a home.Adjustable-rate mortgages contributed significantly to the 2008 housing crisis, as ...
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