ScienceDaily: Markets and Finance News |
| Unexpected benefits of adjustable rate mortgages Posted: 22 Oct 2014 09:35 AM PDT As would be expected during a time of consumer deleveraging, households applied more than 70 percent of their mortgage savings to reducing outstanding credit card debts. Not only did the lower payments reduce mortgage defaults but credit card delinquencies fell. 'These choices had significant impact on foreclosures, house prices and employment in regions that were more exposed to interest rate declines,' the researchers concluded. |
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