Monday, November 28, 2011

One-Year ARMs Fall to Lowest Level in U.S. History

At 2.79%, one-year adjustable rate mortgages fell last week to the lowest level in U.S. history, going all the way back to 1986 (see chart above) following the "legalization" of ARMs in the U.S. by the "Garn–St. Germain Depository Institutions Act" in 1982.

1 Comments:

At 11/29/2011 9:56 PM, Blogger VangelV said...

So much for the recovery. Real rates are negative and housing sales and prices are still sinking. I guess that is what happens when people can't afford the down payment. So how long until the money printing resumes again?

 

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