When Los Angeles resident Jung Lim went shopping for a bigger house for his expanding family, his lender offered him an adjustable-rate mortgage with an interest rate about a percentage point cheaper than a fixed loan. The professor of dentistry figures the money he’ll save makes up for the extra risk. At the height of…
Mortgage rates may be inching up, but they have not put a damper on the American housing market’s rebound. Housing Numbers Reassure Investors (June 26, 2013) The Standard & Poor’s Case-Shiller home price index on Tuesday showed a 12 percent increase in prices in 20 cities from April 2012 to April 2013, the largest gain…