mortgage

How to cope with higher mortgage rates

Mortgage » How To Cope With Higher Mortgage Rates

Options when mortgage rates rise
Options when mortgage rates rise

Mortgage rates have gone up about half a percentage point since the beginning of June. That presents a dilemma for homebuyers and homeowners who want to refinance: Pay more each month or find a way to reduce the cost?

The solutions are few, and the trade-offs many, yet borrowers do have some options in addition to the traditional 30-year fixed-rate mortgage. Here are the pros and cons of each.

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