The Countrywide Banking and Home Loans office in Glendale, Calif., in an April 2007 photo.
More and more Americans are taking up ARMs, or adjustable rate mortgages.
ARMS nearly disappeared after the housing crisis of 2008, in part because they made up a huge bulk of the subprime loans that eventually floundered. But in November, more than a tenth of new mortgages in Southern California had an ARM, double the amount compared to a year earlier.
For a look at whether that's a troubling sign is Raphael Bostic, professor of public policy at USC and a former assistant secretary at the US Department of Housing and Urban Development.