The ARM Strikes Back
Homebuyers took advantage of low interest rates the last several years by getting adjustable rate mortgages. Now rising interest rates spell: bigger, monthly mortgage payments. Marketplace's Sam Eaton reports.
Those of you who locked in record low mortgage rates in recent years may feel the urge to pat yourselves on the back. But for millions of homeowners drawn into the adjustable rate craze of the last few years, the picture isn't so great. (Photo: Photo: Justin Sullivan (c) Getty Images)
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