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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 368.31+0.6%Nov 7 4:00 PM EST
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To: carranza2 who wrote (26748)12/23/2007 9:35:46 AM
From: KyrosL  Read Replies (3) of 217626
 
Why was Greenspan's praise of ARMs bad? Since he praised them, in 2004, ARMs rates have consistently been below fixed rate mortgages. And with another Fed rate cutting campaign just starting, ARM rates are likely to stay below fixed rates for the foreseeable future. Somebody that followed Greenspan's advise would have saved a lot of money.

Given that the average holding time of a US home is 7 years, i think Greenspan's advise was excellent.
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