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House Market In Us About To Hit The Perfect Storm

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Wall Street Journal

Deciding When to Switch

To a Fixed-Rate Mortgage

By Terri Cullen

From The Wall Street Journal Online

More than $2 trillion of adjustable-rate mortgages come up for interest-rate resets in 2006 and 2007, according to Moody's Economy.com. For homeowners who want to refinance to a fixed-rate loan, the timing couldn't be worse -- the average rate for 30-year fixed rate mortgages is at the highest level since 2003.

If there was ever a trigger worthy of the classification as "THE trigger" it is the reality check borrowers of cheap introductory mortgages are going to get when the cheap period ends.

The UK is in exactly the same boat with many who bought into the miracle economy's promise that house prices only go up find that their IO or cheap introductory rate does come to an end.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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