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This is what homeowners did with their savings on variable mortgage rates
Getting an adjustable-rate mortgage can save homeowners money — but whether they actual put those funds to good use is another question.
Today’s ARM borrowers, however, may treat the windfall they receive from their mortgage-related savings differently to those who saw their rates fluctuate between 2010 and 2012, said Mat Ishbia, president and chief executive of lender United Wholesale Mortgage. “I’d be surprised if that’s what happens in today’s market,” Ishbia said. “People are more conservative.”
Getting an adjustable-rate mortgage can save homeowners money — but whether they actual put those funds to good use is another question.
Today’s ARM borrowers, however, may treat the windfall they receive from their mortgage-related savings differently to those who saw their rates fluctuate between 2010 and 2012, said Mat Ishbia, president and chief executive of lender United Wholesale Mortgage. “I’d be surprised if that’s what happens in today’s market,” Ishbia said. “People are more conservative.”
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