Maybe Alan Greenspan Was Right About Floating-Rate Mortgages


Mario De Tomasi was interviewed and quoted by Bloomberg

ARMs’ lower payments and Americans’ propensity to change homes fairly often makes them a good choice, says Mario De Tomasi, chief financial officer at San Ramon, California-based lender Commerce Home Mortgage.

“Most borrowers—especially younger ones and first time homebuyers—won’t stay in the same residence for 30 years,” he said in an e-mail. “Personally I have never taken out a 30-year fixed mortgage on any property I have owned.”

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