“True also it’s going to cost more for home owners to pay off their loan a bunch.”
Every adjustable-rate mortgage that can be refinanced into a fixed rate has been. There are very few arms out there to go bad. In the residential market, that is.
We are also at a record high percentage of homes being clear of any mortgages, 37%!
The housing market is in a slow mode interest rates are choking it the added amount to payments is to high.