At 2.79%, one-year adjustable rate mortgages fell last week to the lowest level in U.S. history, going all the way back to 1986 (see chart above) following the “legalization” of ARMs in the U.S. by the “Garn–St. Germain Depository Institutions Act” in 1982.

About Mark J. Perry
262 Articles
Affiliation: University of Michigan
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan.
He holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University in Washington, D.C. and an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota.
Since 1997, Professor Perry has been a member of the Board of Scholars for the Mackinac Center for Public Policy, a nonpartisan research and public policy institute in Michigan.
Visit: Carpe Diem
Related Articles
Interest Rates: The Case for Tightening is Getting Weaker and Weaker
September 29, 2015
Scott Sumner
Negative Interest Rates are Here
September 7, 2020
WSP
Bubbles, Interest Rates and Full Employment
November 20, 2013
Antonio Fatás
Be the first to comment
This site uses Akismet to reduce spam. Learn how your comment data is processed.
Leave a Reply