Interest Rate Surge: $100 Billion in Fixed Mortgages Set to Expire by Year-End
With just four months remaining in the year, the colloquially termed “fixed-rate cliff” is now passing its midway point. Over $100 billion in fixed-rate mortgages are set to expire by year-end. After a 400-basis point increase in interest rates across 12 incremental steps, we assess the situation at the edge of this so-called cliff. Firstly, …
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