
How a Rate Cap Affects Your Adjustable Mortgage
Posted Wednesday June 22, 2016 in Adjustable Rate Mortgage
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,…