Uncertainty about refinancing an adjustable-rate mortgage before rate hikes
Homeowners with ARMs worry whether refinancing now will protect them from upcoming Fed rate increases, causing anxiety and indecision.
3 voices
What people say
- Treasury yields hit something like a three year high this week, and my adjustable rate mortgage resets in November. I'd been avoiding the math, but I finally sat down and ran the numbers last night and nearly had a panic attack at my kitchen table. Has anyone actually gone through a reset recently? Is it as bad as it looks on paper?
- my mortgage is an arm and the fed might raise rates again after this weeks hot jobs report. does refinancing now before a hike actually happens do anything or am i just panicking for nothing
- Median home price here is $620K. With current mortgage rates I would need to earn double what I make now just to qualify. I have been saving for 6 years. I watched the window close in real time. Curious how many people have completely given up on buying and what you did instead.