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Rate Rise Pushing Consumers toward ARMs.
Washington -- Adjustable-rate mortgages and interest-only products accounted for 63% of home loan originations in the second half of last year, according to data compiled by the Mortgage Bankers Association.
Origination volume in the second half of 2004 was about evenly divided between home purchase and refinance lending, with home purchase loans accounting for 51% of the total.
MBA chief economist Doug Duncan said it's not a surprise that ARM volume increased as long-term interest rates edged up in 2004 and refinancing declined.
"This interest rate cycle is unusual in that the increase in ARMs has occurred with a much smaller increase in rates than in past cycles. One reason is that house price appreciation leading up to this ARM cycle was much stronger than in previous ones, creating ...
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...s annual convention here, Mortgage Bankers Association chief economist Douglas Duncan said that...defaulting, Mr. Duncan said many of those ARMs have already reset at least once and...remaining $500 billion to $800 billion of ARMs will just reset, he said. Overall...
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The Mortgage Bankers Association (MBA) lauded an agreement reached in early December between the...homeowners carrying subprime hybrid adjustable-rate mortgages (ARMs). In a White House ceremony held the same day as the release of...
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...President Bush in November. Hybrid ARMs are mortgages with a fixed interest...1, 7/1 and 10/1 hybrid ARMs. Because a hybrid ARM converts to an ARM after the initial fixed-interest...allowing FHA to offer hybrid ARMs, the president and Congress...
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...PRNewswire/ -- The N.C. Bankers Association (NCBA) and the American Bankers Association (ABA) are co-sponsoring...equity lines and loans, ARM (adjustable-rate...Kelley at the N.C. Bankers Association in Raleigh: 919-782...
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- Magazine article from: Fairfield County Business Journal January 6, 1992 700+ words
...State Mortgage Bankers Association. "This is the...the Mortgage Bankers Association of America reports...mortgage banking arm of Midlantic...moving from an ARM to a fixed rate...The Mortgage Bankers Association successfully...
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- Magazine article from: National Mortgage News Collins, Brian December 31, 2007 700+ words
...s Hope Now initiative to help subprime ARM borrowers who cannot afford the next upward...Lamar Smith, R-Texas, said. The Mortgage Bankers Association and American Bankers Association continue to oppose the bill. This bill will...
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The Mortgage Bankers Association has teamed up with...is the educational arm of the trade association...from the Mortgage Bankers Association. Described as a...with the Mortgage Bankers Association that offers the banking...
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...The Mortgage Bankers Association (MBA) announced...education website which arms consumers with the...The Mortgage Bankers Association (MBA) is the national...com, the Mortgage Bankers Association's unbiased consumer...
Source: HighBeam Research, Rate Rise Pushing Consumers toward ARMs.