How Cheap Mortgages Are Backfiring On Homeowners
Many Americans took advantage of historically low mortgage rates during the pandemic. But for homeowners who opted for adjustable-rate mortgages, those savings might not last. As mortgage rates continue to remain elevated, hundreds of thousands of borrowers are soon nearing the end of their introductory fixed-rate periods, putting them at risk of higher monthly payments. And with refinancing no longer offering the same relief it once did, some homeowners could find themselves facing a difficult financial decision.Producer: Juhohn Lee
Reporter: Mike Winters
Additional Reporting by: Sarah Agostino
Edited by: Macklin Fishman, Dennis Donovan
Animation: Emily Park, Jason Reginato
Senior Director of Video: Jessica Leibowitz
Additional Footage: Getty Images
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