Greenspan says Adjustable Rate Mortgages might be better option - 2004-02-24
Federal Reserve Chairman Alan Greenspan said Monday that Americans' desire for long-term, fixed-rate mortgages suggests many are paying more than necessary for their homes and suggested consumers would benefit if lenders offered more alternatives.
In a standing-room-only speech to the Credit Union National Association meeting here, Greenspan also said U.S. household finances appeared generally sound, despite rising debt levels and bankruptcy filings.
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