that dreaded credit suisse chart that showed the different layers of junk mortgages, suggested that the majority of ARM's would have reset by beginning of Q4 2012
The 10 year T's had some WILD movement over the last ten days
However, those charts were last updated in 2009, does anyone have a more updated chart that shows when the rest of the bulk of ARM's resets? If rates "have to rise" at some point, is there any correlation to them attempting to bounce off the bottom lately and time healing the wounds of the resetting/recasting ARM's?
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FollowBefriend (31)34 threads2,547 comments San Jose, CAPremium
I've seen some people are very happy that their mortgage reset recently. They went from paying 5.25% interest only to 3.125% principal+interest. The payments are about the same, but they are paying a huge sum of it toward the principal now. Life is better for them now. Looks like they'll be happy till at least the end if 2014.