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Adjustable-rate mortgages are on the rise as interest rates soar

By Third PartySeptember 19, 2022

Source: Billings Gazette —

As interest rates shoot up, some buyers are turning to a different, and slightly more risky type of mortgage.

Adjustable-rate mortgages, known as ARMs, have seen an uptick in popularity recently as home shoppers, eager to avoid soaring interest rates amid a torrid housing market, are turning to these loans in order to nab a cheaper rate.