adjustable-rate mortgage

The elder Ms. Alcin had menial agricultural jobs — work that, at the age of 67, has become more difficult to do, even as she tries to make higher payments on her home’s adjustable-rate mortgage.

But Clark had watched her mother, during the subprime-mortgage boom, be lured into homeownership by a “teaser” mortgage rate, only to lose her home to foreclosure when that adjustable-rate mortgage ballooned and she could no longer afford the payments.

Many buyers are therefore making new calculations, including whether it’s worth paying upfront fees in exchange for a lower rate, or if an adjustable-rate mortgage is worth the risk.

The 5-year Treasury indexed hybrid adjustable-rate mortgage averaged 4.97% in the latest survey up from 4.93% last week and 2.43% last week.

The average for the five-year adjustable-rate mortgage decreased to 4.19 percent from 4.50 percent with an average 0.4 point.