
One way to reduce the hit of higher mortgage rates
CNN
Mortgage rates have risen faster this year than they have in decades.
The average 30-year fixed-rate mortgage has been hovering above 5% for more than a month, taking a toll on prospective homebuyers. While many hopeful buyers have bowed out of the market for now, some are exploring what once seemed like an unlikely option: adjustable rate mortgages, or ARMs.
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