Top 10 areas at risk for mortgage-rate shock

CHICAGO (MarketWatch) -- Communities that will be hit hardest by rising interest rates and their effect on adjustable-rate mortgages are concentrated in the South and Midwest, according to a report released by watchdog group ACORN on Tuesday.
According to the group's study, "The Impending Rate Shock: A study of home mortgages in 130 American cities," the top 10 areas most at risk for "rate adjustment shock" include Detroit and Flint, Mich.; Memphis, Tenn.;