adjustable-rate mortgage

Street Cents
4:28 am
Tue December 6, 2011

For some, the gamble of an adjustable-rate mortgage pays off

Low interest rates making headlines. That's good news for adjusting or locking in a mortgage.

KPLU's John Maynard bought a condo in 2007 – at the height of the market. He took out an adjustable-rate mortgage that's "adjusting" in June.

That's turned out to be good news for Maynard, who's mortgage payment will go down considerably since interest rates are low right now and expected to be so for quite some time.

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