Major Hayden 🤠on Nostr: Let's consider a family that bought a home in the last 4-5 years. These homes had sky ...
Let's consider a family that bought a home in the last 4-5 years. These homes had sky high prices.
To afford it, a family goes for an adjustable rate mortgage (ARM) and they get a payment that fits in their budget, but doesn't leave much wiggle room.
Now interest rates are towering over 7% and their mortgage could have gone up $500, $1000, or maybe more per month. Ouch.
Published at
2023-08-16 12:19:03Event JSON
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"content": "Let's consider a family that bought a home in the last 4-5 years. These homes had sky high prices.\n\nTo afford it, a family goes for an adjustable rate mortgage (ARM) and they get a payment that fits in their budget, but doesn't leave much wiggle room.\n\nNow interest rates are towering over 7% and their mortgage could have gone up $500, $1000, or maybe more per month. Ouch.",
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