Industry News

Number of ARM borrowers refinancing into another ARM rises

But majority still switched to fixed-rate mortgages in Q2, report finds
Published on Aug 13, 2007

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by CareyBot

Although they remained a distinct minority, more borrowers looking to refinance their adjustable-rate mortgages during the second quarter went with another ARM loan instead of a fixed-rate mortgage, Freddie Mac reports. About 4 percent of borrowers with 1-year ARMs stayed ...