What Year Did ARM Mortgages Start?

Answer Adjustable rate mortgages were created in 1982 with the Garn-St. Germain Depository Institutions Act. This act was created to deregulate the savings and loan industry and allowed lending institutio... Read More »

Top Q&A For: What Year Did ARM Mortgages Start

What is the volume of home mortgages in the U.S. per year?

Based on statistics from the FDIC, mortgage originations peaked in 2003 at almost $4 trillion and have steadily declined since then. In 2008 mortgage originations totaled $1.5 trillion, lower than ... Read More »

Are 50-year mortgages good?

On One Hand: Longer Terms Are BetterThe longer the term (or length) of a mortgage, the better for the borrower as a whole. The loan amount per month is smaller, making the debt easier for the borro... Read More »

Are there 10-year mortgages?

Mortgage terms can range from 10 to 50 years, depending on the lender and the program. A shorter mortgage term typically yields a lower interest rate and lower overall expenses, though monthly prin... Read More »

How many foreclose on mortgages a year?

The number of foreclosures varies from year to year. According to Realtor Magazine, the number of mortgages that were foreclosed upon in 2009 was 2.8 million. This represented a 21 percent increase... Read More »