Adjustable Rate Mortgages
Saturday, January 19th, 2008Much has been made in the press about the sub-prime market and it’s relationship to Adjustable Rate Mortgages. I thought that a listing of the ten states with the highest precentage and the ten states with the lowest percentage of Adjustable Rate Mortgages would be informative and might be an indicator of where mortgage problems will remain for a while. I have included the District of Columbia in the mix and yes I know that the District is not a state.
Highest Percentage ARMs
Nevada 40.3%
California 38.2%
District of Columbia 33.2%
Arizona 32.1%
Florida 29.5%
Colorado 27.2%
Washington 24.5%
Virginia 23.6%
Hawaii 23.3%
Lowest Percentage ARMs
Oklahoma 9.6%
South Dakota 10.2%
Arkansas 10.4%
North Dakota 10.7%
Nebraska 11%
Iowa 11.6%
Louisiana 11.8%
Wyoming 12.2%
Texas 12.4%
West Virginia 12.5%