Chart 5. The title is "Home Purchasers in Higher-Priced Markets Opt for Adjustable-Rate Mortgages More Frequently".

A scattergraph showing the average purchase price of a home and the average annual share of home purchase mortgages with adjustable rates from 1999 to 2002 in various markets.

In Kansas City, the average purchase price of a home was $167 thousand, and the average share of adjustable-rate mortgages was 22%. In Indianapolis, the average purchase price of a home was $171 thousand, and the average share of adjustable-rate mortgages was 18%. In Dallas, the average purchase price of a home was $181 thousand, and the average share of adjustable-rate mortgages was 14%. In Miami, the average purchase price of a home was $184 thousand, and the average share of adjustable-rate mortgages was 21%. In Phoenix, the average purchase price of a home was $188 thousand, and the average share of adjustable-rate mortgages was 20%. In Salt Lake City, the average purchase price of a home was $195 thousand, and the average share of adjustable-rate mortgages was 24%. In Philadelphia, the average purchase price of a home was $205 thousand, and the average share of adjustable-rate mortgages was 11%. In Minneapolis, the average purchase price of a home was $214 thousand, and the average share of adjustable-rate mortgages was 14%. In Atlanta, the average purchase price of a home was $208 thousand, and the average share of adjustable-rate mortgages was 16%. In the nation, the average purchase price of a home was $207 thousand, and the average share of adjustable-rate mortgages was 18%. In Detroit, the average purchase price of a home was $206 thousand, and the average share of adjustable-rate mortgages was 21%. In Portland, the average purchase price of a home was $208 thousand, and the average share of adjustable-rate mortgages was 23%. In Chicago, the average purchase price of a home was $224 thousand, and the average share of adjustable-rate mortgages was 30%. In Denver, the average purchase price of a home was $257 thousand, and the average share of adjustable-rate mortgages was 27%. In Seattle, the average purchase price of a home was $260 thousand, and the average share of adjustable-rate mortgages was 27%. In Honolulu, the average purchase price of a home was $270 thousand, and the average share of adjustable-rate mortgages was 18%. In Washington, DC, the average purchase price of a home was $270 thousand, and the average share of adjustable-rate mortgages was 15%. In New York City, the average purchase price of a home was $289 thousand, and the average share of adjustable-rate mortgages was 19%. In Los Angeles, the average purchase price of a home was $292 thousand, and the average share of adjustable-rate mortgages was 35%. In San Diego, the average purchase price of a home was $322 thousand, and the average share of adjustable-rate mortgages was 37%. In San Francisco, the average purchase price of a home was $417 thousand, and the average share of adjustable-rate mortgages was 56%.