Flexible rate mortgages provide home buyers with another option
These days, home buyers have a chance to take advantage of flexible rate mortgages, which have proven to be a positive addition to the mortgage offerings for many lenders. In the past fifteen years, prospective home buyers have taken advantage of flexible rate mortgages more than ever before in history.
So what makes these flexible rate mortgages so attractive for buyers? Really, it has everything to do with just how unreliable and volatile the markets have been as of late. With the housing market in constant flux and the mortgage rates being up and down, buyers are hesitant to lock themselves into a rate that might look too high in the near future. Instead of changing the game by refinancing when the rates decline, home buyers are finding that flexible rate mortgages offer a much better option.
As the housing markets become more stable, these loans are likely to decline in popularity. For now, they are still a very good choice and a very popular product for new home buyers. Lenders don't mind providing this for their clients, since it is a good way to attract buyers who might have otherwise been scared off by the shifting interest rates right now.