Thrifts Still Rely on Fixed-Rate Loans, But ARM Originations Jumped in 2005
Fixed-rate mortgages continued to dominate thrifts’ pipelines in 2005, although they did lose a lot of ground to adjustable-rate mortgages, according to a new survey by America’s Community Bankers. Fixed-rate loans accounted for 58 percent of thrift loan production, down from 70 percent in 2004. Meanwhile, ARMs increased by 8 percent to 38 percent. …