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07/26/09
128,000 ARMs yet to ‘reset’ in Arizona housing market
Filed under: General, Mortgages
Posted by: Lillian Wong @ 4:21 pm

There are still at least 128,000 other shoes to drop in the Arizona housing market, according to housing experts tracking the progress of adjustable-rate mortgage loans.

 

Adjustable-rate “resets,” in which a low initial interest rate changes to a typically higher rate, represent a looming threat to the state’s economic recovery, some real-estate analysts said.  more…



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