Low Interest Rates Make Fixed Rate Loans the Choice of Refinancers
admin2011-05-19T01:05:27-07:00May 19, 2011 (Jeff Alan) The continuing historically low mortgage interest rates have prompted refinancing borrowers to overwhelmingly choose fixed rate mortgage loans over adjustable rate mortgages (ARM). In the first quarter of 2011, when borrowers financed their existing mortgage, over 95 percent chose a fixed rate loan according to statistics compiled by Freddie Mac. [...]