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If you've been house hunting lately, you've probably felt the sting of today's mortgage rates. And it's because of those rates and rising home prices that many homebuyers are starting to explore other types of loans to make the numbers work. And one option that's gaining popularity? Adjustable-rate mortgages (ARMs).
If you remember the crash in 2008, this may bring up some concerns. But don't worry. Today's ARMs aren't the same. Here's why.
Back then, some buyers were given loans they couldn't afford after the rates adjusted. But now, lenders are more cautious, and they evaluate whether you could still afford the loan if your rate increases. So, don't assume the return of ARMs means another crash. Right now, it just shows some buyers are looking...
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