ARM Resets a Growing Concern as Economy And Home Price Appreciation Rates Fluctuate
June 23, 2006
Nearly 10 percent of homeowners with adjustable-rate mortgages will experience rate resets this year, according to a new study by Harvard University’s Joint Center for Housing Studies. The study warns that if the economy and home price appreciation falter, borrowers with ARMs and subprime mortgages are more likely to default...