After nearly a decade of historically low interest rates, the Federal Reserve has started (albeit very slowly) to raise its overnight lending rate. This rate is what ultimately determines the cost of many different lending products throughout the US, including mortgage rates.
Adjustable rate mortgages can make it easier for you to get into the home of your dreams. These mortgages adjust over time based on the market which means that they can be a good buy for savvy investors. As with all mortgages, it's important to understand how they work so that you can plan accordingly.
If you have any questions regarding selecting the right mortgage lender for you or you would like to schedule an appointment to speak more about our products and services, please feel free to contact Sovereign Lending Group today!