Reported 10 months ago
Mortgage payments can increase for various reasons, including rising homeowners insurance premiums, property tax fluctuations, and changes in escrow accounts. Even homeowners with fixed-rate mortgages may see changes due to reassessments or adjustments in taxes and insurance. Additionally, variations in interest rates from refinancing or adjustable-rate mortgages can also lead to higher payments. Understanding these factors can help homeowners take action to mitigate increased costs.
Source: YAHOO