Homebuyers in Expensive States Opt for Risky Mortgages
Irvine News Today | 2 Min News | The Daily News Now! · The Daily News Now!
Audio is streamed directly from the publisher (api.fastcast.ai) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Homebuyers in high-cost states like California, Delaware, Massachusetts, and Washington are increasingly opting for adjustable-rate mortgages to afford median home prices averaging $454,000, 46% higher than the $310,000 average in low-cost states. These loans offer lower initial payments, with California homebuyers saving $280 monthly on a $759,000 home. Nearly half of million-dollar mortgages nationwide were adjustable last December, reflecting the affordability strain and faster price growth in high-cost areas.
Support the show:
Get a discount at https://solipillow.com/discount/dnn.
Advertise on DNN:
[email protected]
This is an automated, high-level news summary based on public reporting.
Report issues to [email protected].
View sources & latest updates:
https://sources.thednn.ai/cb5ea64d40b707bd