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Real Estate & Property Law

: Housing Wire

With Fixed Rates This Low, Who Needs ARMs?

By DIANA GOLOBAY

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Adjustable-rate mortgages — or ARMs — used to be a popular product for refinancing: A borrower paying a high rate would trade in the remainder of a long-term fixed-rate mortgage for an ARM with a low introductory rate. But with the Federal Reserve having slashed its federal funds rate — the target rate for overnight [...]

Full post as published by Housing Wire on January 30, 2009 (boomark / email).

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