With mortgage interest rates at a high, there is a lot of speculation about the housing market and where interest rates are headed. We have our own analysis that we share, and we also explain the ins and outs of a 2-1 Buydown.
You may be surprised to hear just who pays on a 2-1 Buydown. If you’re guessing the buyer, you’d be wrong! Let’s dive into this option that reduces interest rates and mortgage payments for the first few years after a purchase.
Listen to this week’s show to learn more about:
- How the current 7% interest rate has increased the use of Adjustable Rate Mortgages. (2:19)
- How ARMs were a part of the problem in 2008. (4:30)
- What factors play into whether an ARM is recommended for a home buyer? (6:44)
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If you have questions about the mortgage process of buying a home or the ins and outs of refinancing, take advantage of our complimentary 15 minute mortgage consultation.
QUOTABLE MORTGAGE MOMENT: