A survey of homeowners conducted for Wells Fargo & Co., San Francisco, found that while nearly eight in 10 of those with adjustable-rate mortgages are worried about their interest rate rising, only 56% said they would refinance when the rate changes.The Wells Fargo Third Annual Survey of U.S. Homeowners found that only 14% of respondents had an ARM. Out of those borrowers, 21% said they would take no action when their interest rate adjusts. "It's important that homeowners who have an ARM be aware of when the rate on their mortgage is scheduled to adjust, review their options, and develop a plan of action, even if it means taking no action at all," said Doreen Woo Ho, president of Wells Fargo's consumer credit group. ICR of Media, Pa., conducted the survey by polling 1,361 homeowners, who were selected to mirror the U.S. homeowner population by gender, age, region, race, and education.

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