In Brief: Jan. 24, 2000

ARM STRENGTH With interest rates rising, the case for adjustable-rate mortgages gets stronger. Nearly a third of the home-mortgage market is written in ARMs now, up from 11% a year ago. Is an ARM right for you? In general, the shorter the time you plan on staying put, the better the case for an ARM. They are commonly available in six-month and one-year varieties or hybrids that are fixed for one, three, five, seven and 10 years. The shorter the term, the lower the initial interest rate.

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