Jr.'s Blog

February 14th, 2011 10:51 AM
After accounting for nearly 70% of all mortgages issued during the runup, ARMs disappeared during the real estate meltdown, accounting for just 3% of the market in 2009. Now they make up 5% of all mortgages, and Freddie Mac predicts 10% by December. The reason for the comeback is simple: ARMs are a great bargain right now, especially for someone intending to move soon. The most common ARM loan currently has a rate of 3.5% compared to 5% for a 30-year fixed-rate mortgage.
Posted by Tom Berge Jr. on February 14th, 2011 10:51 AMPost a Comment (0)
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