The Real Deal Miami

Americans losing interest in adjustable-rate mortgages

February 23, 2009 04:30PM

American homeowners have stopped opting for adjustable-rate mortgages, according to a quarterly report from Freddie Mac. Of the homeowners who refinanced adjustable-rate mortgages last quarter, 97 percent switched to fixed-rate mortgages, and 99.7 percent of those who refinanced with fixed-rate mortgages chose to stay with them.