Thousands of homeowners are about to get slammed with higher monthly payments [CNN]
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Intercontinental Exchange Inc. (ICE)
Last intercontinental exchange inc. earnings: 4/30 07:30 am
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Source: CNN
That means when mortgage rates increase, many ARM loan holders, like Hernandez, experience the unpleasant shock of significantly higher monthly home payments. For thousands of Americans like Hernandez who took out ARM loans five years ago, before interest rates shot up to a four-decade high, that shock is coming this year. Mortgage rates have remained elevated , adding fuel to one of the most unaffordable housing markets in decades. That led ARMs to gain traction despite their drawbacks. According to data from Intercontinental Exchange, a global provider of technology and data, 1.7 million homeowners have bought homes with adjustable-rate mortgages since 2019. Many buyers who bought 5-year ARMs – one of the more popular offerings – will graduate into significantly higher monthly payments this year. The fixed period for these ARMs has already reset for 328,000 homeowners – and 102,000 more loans will reset over the next 12 months, according to ICE. ARM loans gained a bad reput
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ICE
News
- Intercontinental Exchange Reports June and Second Quarter 2024 Statistics [Yahoo! Finance]Yahoo! Finance
- Intercontinental Exchange Reports June and Second Quarter 2024 StatisticsBusiness Wire
- Funds Pile Into Bullish European Gas Bets as Supply Fears Mount [BNN Bloomberg (Canada)]BNN Bloomberg
- Intercontinental Exchange, Inc. (NYSE: ICE) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- ICE Mortgage Monitor: As Market Gradually Shifts to Higher Rates, Latest Data Identifies Possible Refinance Tipping Point [Yahoo! Finance]Yahoo! Finance
ICE
Earnings
- 5/2/24 - In-Line
ICE
Sec Filings
- 7/3/24 - Form 4
- 7/3/24 - Form 4
- 7/3/24 - Form 4
- ICE's page on the SEC website