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Yesterday, British voters voted to leave the European Union in search of more economic independence. Although Great Britain is across the pond, this decision has an effect on the US mortgage market. As of today, the Brexit is actually keeping interest rates low. In fact, according to the Washington Post, the Federal Reserve feared that… Read more »
Economic experts are still talking about a future rise in interest rates. If you have an adjustable rate mortgage (ARM), you could be at risk of rising payments if there is no cap on your loan over time. For example, if the index, which is used to calculate the interest rate on an adjustable-rate mortgage,… Read more »