Will Climate Change Raise Your Mortgage Costs?

Per this article, weather-related disasters, driven by climate change, will cause an increase in insurance and mortgage interest rates….which will increase the number of foreclosures….further increasing insurance and mortgage interest rates.

• A 1% increase in insurance costs has an equal 1% increase in foreclosures

First Street, a research firm, says FEMA should double the number of properties in its flood zone, from 8 million to 18 million.

Whether you care or don’t care about climate change, your wallet is going to care.