After the Fed cut interest rates, adjustable-rate mortgages may be 'an underappreciated opportunity,' top advisor says
1. Fed's rate cut expectations may lower mortgage rates, aiding homebuyers. 2. 30-year fixed mortgage rates fell to 6.3%, lowest since September 2024. 3. Adjustable-rate mortgages (ARMs) offer lower initial rates, increasing their popularity. 4. ARMs accounted for 10% of mortgage applications, highest in two years. 5. Long-term ARM risks remain if rates increase post-initial period.