Here are results of a study showing that fixed mortgage rates are up, and ARMs are down. Not that all ARMs are bad (the FHA has some fair, reasonable options), but its reassuring to know that people are steering away from “exotic” (seriously, I love the use of that word when describing mortgages. It makes me think of Tahiti. or Fiji.) subprime ARMS. Here are some of the facts:

For first mortgages, fixed-rate loans- including interest only (IO) loans- accounted for 46.2 percent of loans (60.5 percent based on the number of loans) in the second half of 2006 compared to 43.3 percent (54 percent based on number of loans) in the first half of 2006.

This entry was posted on Tuesday, July 10th, 2007 at 3:47 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.