FRMs Gain Popularity in First Quarter Refi Binge, Lenders Play Bigger Role
May 9, 2003
With mortgage rates testing historic low levels during the first quarter of 2003, U.S. consumers became more likely to choose fixed-rate mortgages, according to a new market analysis by Inside MBS & ABS. Fixed-rate mortgages accounted for 46.3 percent of non-agency MBS during the first quarter of this year, up from 45.9 percent in the previous period and 42.2 percent for all of