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Why Adjustable-Rate Mortgages Aren’t as Risky as You Think

Why Adjustable-Rate Mortgages Aren’t as Risky as You Think

In the U.S., there may be no more important financial product than the 30-year fixed-rate mortgage. Americans hold $10.3 trillion in mortgage debt, according to the Urban Institute, and over 70% of all mortgages are of the 30-year fixed variety. With the housing-fueled Great Recession in our rearview mirror, it’s worth asking whether the U.S.’s appetite for fixed-rate mortgages is healthy.

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