Adjustable-rate loans post gains
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From Times wire reports
Rising home prices and the uptick in interest rates are prompting more buyers to select adjustable-rate mortgages.
DataQuick Information Systems said the percentage of buyers who chose adjustable-rate loans reached 52.3% in November, passing the halfway mark for the first time since February 1995, when 52.7% of buyers used them. A year ago, 28.9% chose adjustable-rate loans. The peak was 66.1% in September 1988.
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