Complex sentence: As two-year "teaser" rates that made home purchases like this possible, expired, and mortgage payments skyrocketed, homeowners found refinancing unavailable since it depended on rising home prices Lewis, Michael, "The Big Short".
Split into simpler sentences: As two-year "teaser" mortgage rates common with that made home purchases like this expired, and mortgage payments skyrocketed. Refinancing to lower mortgage payment was no longer available since it depended on rising home prices Lewis, Michael, "The Big Short".