Any website gives the % of ARM mortgage vs. regular mortgage?

[Happy Hopping]

in other words, out of 100% of all USA mortgage, how many % is ARM?

 

[M.W.]

I don't have a figure for the total outstanding. But in 2021 arms accounted for 2% of all applications while now they account for 9% (by count) and 13% (by dollar volume) of all applications. I am not sure what the percentages are for outstanding mortgages.

Higher benchmark rates attract more arm contracts as the initial locked rate is lower than the one on a 30-fixed contract.

in other words, out of 100% of all USA mortgage, how many % is ARM?

 

[Happy Hopping]

first of all. thanks for the reply. Now I have a more interesting question: what's the % of ARM out of all USA just BEFORE the Financial Crisis back in 2007 / 2008?

 

[RantaMin]

first of all. thanks for the reply. Now I have a more interesting question: what's the % of ARM out of all USA just BEFORE the Financial Crisis back in 2007 / 2008?

In the years leading up to the Financial Crisis in 2007-2008, the percentage of Adjustable Rate Mortgages (ARMs) out of all mortgages in the United States peaked at around 36% in 2005 and reached approximately 38% in 2006.

 

[M.W.]

Is that a chatgpt answer? If not you should definitely apply to openai as a reviewer or feedback provider, individuals the model requires...

Regardless, 36% for 2005/2006 sounds unreasonably high, do you have a source for that?

In the years leading up to the Financial Crisis in 2007-2008, the percentage of Adjustable Rate Mortgages (ARMs) out of all mortgages in the United States peaked at around 36% in 2005 and reached approximately 38% in 2006.

 

[RantaMin]

Is that a chatgpt answer? If not you should definitely apply to openai as a reviewer or feedback provider, individuals the model requires...

Regardless, 36% for 2005/2006 sounds unreasonably high, do you have a source for that?

Thanks for the advice)
Find here:
https://www.newyorkfed.org/medialibrary/media/research/current_issues/ci16-8.pdf
Сited the source to:
Federal Home Finance Agency, Monthly Interest Rate Survey

 

[Happy Hopping]

thanks for the information. Google said we are at 9% right now. So you guys think regional bank should be okay at 9% ARM?

 

[Happy Hopping]

update: I just remember back in 2006, from that movie the Big Shorts, an exotic dancer can own 6 houses under ARM. So we are talking about 36% of ARM, where ea. owner can own 6 houses.

Now we are at 9% ARM, so how is the lending std. in USA in the past few years? Can an exotic dancer own more than 1 house nowadays?

 

[TheDawn]

first of all. thanks for the reply. Now I have a more interesting question: what's the % of ARM out of all USA just BEFORE the Financial Crisis back in 2007 / 2008?

35% according to this article: https://www.businessinsider.com/adj... housing,their new monthly mortgage payment."

 

[TheDawn]

update: I just remember back in 2006, from that movie the Big Shorts, an exotic dancer can own 6 houses under ARM. So we are talking about 36% of ARM, where ea. owner can own 6 houses.

Now we are at 9% ARM, so how is the lending std. in USA in the past few years? Can an exotic dancer own more than 1 house nowadays?

Not because of ARM but due to mortgage fraud and using inflated appraised market value to approve mortgages that otherwise shouldn't have been approved.