As the market changes, so does demand for different loan products. Lately, you might have noticed that headlines about ARMs (Adjustable-Rate Mortgages) are everywhere. That’s because when mortgage rates increase, demand for ARMs increases too.
Currently, ARM activity continues to rise. The Adjustable-Rate Mortgage was first popularized in the 1980s, when mortgage rates were more than three times what they are today.
While an ARM isn’t the right choice for everyone, our present environment suggests that now is an ideal time to consult with a mortgage expert and consider all your options.