Homeowners with adjustable-rate mortgages worry about rising interest rates, but many believe they will be able to refinance their loans if necessary, according to a study released Monday.
An survey of homeowners conducted for Wells Fargo & Co., the San Francisco-based bank, found that about one in seven respondents had an adjustable-rate mortgage, or ARM.
With an ARM, the interest rate rises or falls, often in lockstep with an underlying security such as a Treasury bond.
Tags: Mortgages, Real Estate, Homes, Market Conditions
