What he was saying was that ARMs are legitimate financial tools that can save a homeowner money on the mortgage. And, he was saying it at a time when many potential homeowners, mortgage brokers, bankers, etc. were still wary of ARMs.
What's more -- his comments were used by brokers to sell ARMs to clients and add legitimacy to these cockamamie financial instruments.
Yes, but not if rates rise sharply.
And, he was saying it at a time when many potential homeowners, mortgage brokers, bankers, etc. were still wary of ARMs.
"I'm wary of ARMs" "But honey, Greenspan said we should get one" "Buy buy buy!!!"
LOL!