Adjustable Rate Mortgages All But Gone
Adjustable-rate mortgages fell further out of fashion this year, according to Freddie Mac’s 25th Annual ARM Survey.
The precipitous decline in adjustable-rate lending was driven by low fixed interest rates and costly premiums for initial interest rates on Treasury-indexed ARMs.
In fact, Freddie’s survey found that starting rates on conforming one-year ARMs priced 1.76 percent higher than the fully-indexed Read more