Thousands of Homeowners are About to Get Slammed With Higher Monthly Payments

CNN, July 1, 2024–Samantha Delouya
According to data from Intercontinental Exchange, 1.7 million homeowners have bought homes with adjustable-rate mortgages since 2019. Many buyers who bought 5-year ARMs – one of the more popular offerings – will graduate into significantly higher monthly payments this year.
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