Quote:
|
Originally Posted by boneprone
Why would their rates go up??
Most of us locked in our rates at lifetime lows..
The key word here is "locked" .......
Why people do "arm" financing and dont lock in a rate is beyond me.
|
Because debt is at a record high and a LOT of people have taken out home equity loans which are not locked.
Mix that in with lower wages and you have a recipe for foreclosures.