"According to data from Intercontinental Exchange, a global provider of technology and data, 1.7 million homeowners have bought homes with adjustable-rate mortgages since 2019."
What I didn't see is the number of those folks who may have already refinanced to lock in a low fixed rate loan when interest rates were very low. I didn't see any indication of any adjustment for that. I'd bet lots of people are likely to have made a different decision than Ms. Hernandez and chose a slightly higher interest rate in the short term in order to prevent the dramatic rate increase others will be experiencing soon. The big question is how many...
It certainly would be great for us, though, if those expiring fixed rate periods trigger some wave of refinancing, even if it's a small one. |
