Fear! Adjustable-rate 30Y Mortgages (ARMs) Are 130 Basis Points Lower Than 30Y Fixed-rate Mortgages, But ARMs Are Only 7.9% Of Mortgage Originations
by confoundedinterest17 Michael Lea and I wrote a paper several years ago arguing that most borrowers would be better-off with an adjustable-rate mortgage than a fixed-rate mortgage. The US is one of the few countries in the world where the …