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Survey Shows ARMs Diminishing in Appeal
By admin | January 17, 2008
Freddie Mac has just released the results of its 24th Annual adjustable rate mortgage (ARM) Survey.
The survey, a snapshot of the market taken during the week of December 17 to December 21 based on data from 112 ARM lenders, found that starting rates for ARMs had changed little since the 2006 survey even though the Federal Reserve had lowered its federal funds target a full point to 4.25 percent during that time period. In contrast, fully- indexed rates had fallen to their lowest levels in three years.
The survey also found that:
Topics: Mortgage News |