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Tag Archives: Mark Fleming

Share of ARM Loans Climbs to 14-Year High Mark

As overall mortgage rates edge closer to 7%, mortgage app volume experienced their fourth consecutive month of declines, with an uptick in ARM loans demonstrating that they remain a feasible option for borrowers seeking ways to reduce their monthly payments.

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Potential Homebuyers Feel Biggest Impact of Rising Rates

“The higher the mortgage rate, the more sellers will go on strike and the more potential buyers will feel the impact of reduced house-buying power, but price appreciation will further slow and potential buyers can use adjustable-rate mortgages to regain some of that lost house-buying power,” said Mark Fleming, First American’s Chief Economist.

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More Homebuyers Taking up ARMs

Mark Fleming, Chief Economist at First American, explains why current conditions mean adjustable-rate mortgages “could be a game-changer for many first-time homebuyers."

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