By Holden Lewis | Professional Builder
A new ranking reveals 9 challenges, welcome developments, and housing’s most wanted in 2019. While housing inventory and financing is expected to remain tight, more entry-level homes should be coming online.
Due to rising interest rates for fixed mortgage loans, NerdWallet’s 2019 report anticipates that adjustable-rate mortgages (ARMs) will grow in popularity among buyers seeking solutions to ease their financing. ARMs offer lower introductory rates than traditional fixed-rate loans; when using this borrowing product, buyers take on the risk that their rates and monthly payments may rise when their loan’s rate is adjusted. According to loan processor Ellie Mae, ARMs are gaining steam, with an 8.2 percent share of total mortgages in October 2018, up 2.7 percent annually.
