Chart 53 Shrinking ARM Market Is a Prelude to Decelerating Subprime Originations
Notes: ARM = adjustable-rate mortgage. For 2005, the figure is an estimate from the Mortgage Bankers Association. ARM percentage was at 10-year lows in both 1998 and 2001 at 12 percent. ARM percentage was at a 10-year high in 2004 at 35 percent. Currently, ARM percentage has decreased by 14 percent from its previous high to 30 percent.