A recent New York Federal Reserve report shows that adjustable-rate mortgages fell from a nearly 70% share of the market in 1994 to just 3% in early 2009 as homebuyers grew more wary of the risks associated in these products. One of the government-sponsored enterprises, Freddie Mac, is also stating it is doubtful the mortgage product will return to those glory days any time soon.
Tuesday, January 18, 2011
Adjustable-rate mortgages fall to 3% market share as homeowners watch risk
The Housing Wire reports:
