Tag "fixed rate mortgage"
The U.S. housing market is certainly not stellar, but it apparently has put its very worst years behind it. The S&P/Case-Shiller home index rose by 2.2 percent in May, with all 20 of the nation’s largest metropolitan areas posting average housing price gains over April.
Say “adjustable rate mortgage” to many consumers and you’ll hear a variety or responses, with not a few being quite negative. That’s because ARMs are associated with sub-prime lending, which was quite common and have been routinely blamed for our current mortgage crisis.