تجربه یک زوج با وام مسکن با نرخ متغیر در زمان افزایش نرخ‌ها

Adjustable-rate mortgages (ARMs) have made a comeback as mortgage rates surge and buyers seek relief from high housing costs.

In fact, the share of ARMs is now the highest it’s been in over a decade. According to the Mortgage Bankers Association, ARMs accounted for 11.6% of all mortgage applications in the week ending Feb. 23.

For some borrowers, ARMs can offer a lower initial interest rate than fixed-rate mortgages, which can translate to lower monthly payments. However, ARMs come with the risk that the interest rate could increase over time, leading to higher monthly payments.

One couple, Sarah and Ben, took out an ARM in 2022 when rates were over 8%. They were looking to buy their first home in San Diego, California, and were struggling to afford the monthly payments with a fixed-rate mortgage.

“We were getting discouraged,” Sarah said. “The fixed rates were just too high for us.”

They decided to take a chance on an ARM, hoping that rates would fall in the future. Their ARM had an initial rate of 7.5%, which was lower than the fixed rates available at the time.

“We knew there was a risk, but we felt like it was worth it,” Ben said. “We were confident that rates would eventually come down.”

As it turned out, their gamble paid off. Rates fell in the months after they took out the loan, and their monthly payments decreased.

“We were so relieved,” Sarah said. “It felt like a weight had been lifted off our shoulders.”

However, not all borrowers who take out ARMs will be as lucky as Sarah and Ben. If rates rise, ARM borrowers could see their monthly payments increase significantly.

“ARMs are not for everyone,” said Greg McBride, chief financial analyst at Bankrate. “They are best suited for borrowers who plan to stay in their homes for a short period of time or who are comfortable with the risk of rising rates.”

Before taking out an ARM, borrowers should carefully consider their financial situation and risk tolerance. They should also understand the terms of the loan, including how often the interest rate can adjust and how high it can go.