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February 22, 2008
ARM Borrowers Switching to Fixed-Rate Refis
Nine out of 10 adjustable-rate mortgage borrowers chose fixed-rate loans when they refinanced in the fourth quarter, according to Freddie Mac. Of those borrowers who originally had a one-year ARM, 92% chose a fixed-rate mortgage in the second quarter, as did 89% of borrowers who originally had a hybrid ARM, Freddie Mac said in its Refinance Product Transition Report.
Posted by S. Germain at February 22, 2008 08:38 AM