Who Selected Adjustable-Rate Mortgages? Evidence from the 1989-2007 Surveys of Consumer Finances
46 Pages Posted: 5 Nov 2009
Date Written: November 4, 2009
We find evidence that households selecting Adjustable Rate Mortgages (ARMs) during the recent decade were disproportionately those who were less suspicious or who may have had difficulty understanding complicated ARM features that became commonplace prior to the financial crisis.
Keywords: Mortgages, ARMs
JEL Classification: G21
Suggested Citation: Suggested Citation