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A comment on Mortgages are a manufactured product. Parent comment
No, it doesn't. That's a chart of the average annual interest rate of 30 year mortgages, not the share of mortgages that are 30 year mortgages.
EDIT: The Mortgage Bankers Association does regular press releases of stats [0], and in them recently ARMs seem to be 3-3.5% of applications.
[0] e.g., https://www.mba.org/2022-press-releases/january/mortgage-app...
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No, it doesn't. That's a chart of the average annual interest rate of 30 year mortgages, not the share of mortgages that are 30 year mortgages.
EDIT: The Mortgage Bankers Association does regular press releases of stats [0], and in them recently ARMs seem to be 3-3.5% of applications.
[0] e.g., https://www.mba.org/2022-press-releases/january/mortgage-app...