More borrowers choose adjustable-rate mortgages

06/22/2011 | New York Times (tiered subscription model), The

Interest rates on adjustable-rate mortgages are more attractive than those on fixed-rate loans, tempting more borrowers to try ARMs. About 12% of new mortgages in the first quarter were adjustable-rate loans, compared with 9% in the last quarter of 2010, according to the newsletter Inside Mortgage Finance.

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New York Times (tiered subscription model), The

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