31% of California Mortgages in 2025 Used an Adjustable Rate

Orange County Register, March 13, 2026-Jeff Lazerson

In California last year, 31% of all mortgages used an adjustable rate structure, the highest share in three years. Nationally, 21% of homeowners used an ARM, according to the Irvine-based housing data firm Cotality (formerly CoreLogic).

Currently, ARMs compose 7% of all mortgage originations and less than 2% of loans with mortgage giants Fannie Mae and Freddie Mac’s origination, according to the Urban Institute.

Why so high?
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