ARM Applications Falling

Date May 15, 2007

Considering all the problems related to existing subprime adjustable-rate mortgages – e.g., home foreclosures, lender bankruptcies – it’s no wonder that the proportion of applications for new ARM loans is dropping. It’s now down to 20.2 percent of all mortgage applications, according to a report from John Burns Real Estate Consulting.
Burns noted that in [...]