The Real Deal Miami

No strength for ARM market

June 01, 2009 03:21PM

Adjustable rate mortgages have fallen out of favor among borrowers and lenders. As nearly half of all subprime ARMs nationwide fall at least one payment behind, low rates are wiping out the advantage the adjustable rate loan once offered. Many South Floridians with exotic variants can’t restructure their loans because they aren’t guaranteed by Fannie Mae or Freddie Mac.