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| | Homes: A farewell to ARMs? |
 | | ARMs may be declining in overall market share, but they're still hot products in some parts of the country, as well as in the subprime mortgage segment, where borrowers have impaired credit and below-par FICO scores. |
 | | ARMs also are exceptionally popular in Nevada, where they accounted for an estimated 42 percent of the market last year, and in California 38 percent, the District of Columbia (about 35 percent) and Colorado, Arizona and Florida, where roughly one of every three new mortgages was an adjustable. |
 | | Maybe you can wave farewell to a lot of the old-fashioned one-year adjustables - at least under current interest rate conditions - but not to the newer, hybrid models that still make sense for large numbers of buyers and refinancers. |
| www.stpetetimes.com /2007/01/13/Homes/A_farewell_to_ARMs.shtml (836 words) |
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