Millennials and Gen Z Are Gambling on a Big Mortgage-Rate Drop, Using ARMs and Refinancing. But That Could Be a ‘Financial Ticking Time Bomb’

Fortune, Sydney Lake, Aug. 26, 2025
Mortgage rates have remained stubbornly high since 2023—which has been duly painful as many homeowners recall the sub-3% rates during the pandemic. Combined with historically high home prices, droves of would-be homeowners have been locked out of the housing market, many of which are millennials and Gen Z.
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