The extent of this fixed rate “mortgage cliff” is highlighted in the next chart from Morgan Stanley. Should you wish to proceed, the team at Compare n Save will manage the entire application process for you. Try the Compare n Save comparison service for yourself. Compare 100s of home loans ‘n’ Save Compare 100s of loans in seconds, hassle free….. and when you’re ready to apply, we’ll manage the process for you. As an example, consider somebody seeking to refinance a $500,000 loan on a home valued at $700,000 and currently paying a variable mortgage rate of 6%.

Source: Washington Post March 11, 2023 05:44 UTC