A Farewell to ARMs? Americans Still Shunning Adjustable-Rate Mortgages 10 Years After the Crisis
MarketWatch, July 9, 2018--Andrea Riquier
As the financial crisis gathered steam, Americans fled adjustable-rate mortgages. The share of all mortgage applications with floating rates sank below 1% in late 2008. A decade later, their share still remains low: 6% in early June, according to the Mortgage Bankers Association, versus an average of about 20% in the ten years before 2008.