The U.S. Housing Boom Is Coming to an End, Starting in Dallas

Re:The U.S. Housing Boom Is Coming to an End, Starting in Da... by nostrademons on Tuesday November 27, 2018 @02:17AM (#18540217)

As of 2017, 90% of mortgages in the U.S. were 30-year fixed. 6% were 15-year fixed. Only 2% were ARMs.

http://www.freddiemac.com/perspectives/sean_becketti/2017041...

People got burned bad by ARMs in the housing crash of 2009 and they still aren't willing to take the risk.

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Re:The U.S. Housing Boom Is Coming to an End, Starting in Da... by sokoloff on Tuesday November 27, 2018 @08:30AM (#18542101)

Thanks for bringing data into the discussion!

("Yes and") There's also very little rate benefit to adjustable mortgages right now, so it's quite sensible to take a fixed rate mortgage. When I bought my first house (in 1996), I recall that fixed rate mortgages were several points higher than adjustable rate mortgages during their fixed portion. In cases like that, it made for an actual decision.

With both fixed rates and ARMs having roughly the same initial rates, there's little reason to choose adjustable.

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