ARM Holders Face Decision When Fixed-Rate Period Ends

homeowners are eyeing new loans for protection.

With a hybrid, homeowners get a relatively low, fixed interest rate on a long-term mortgage for a short time, typically three, five or seven years. Afterward, the loan converts to an adjustable-rate mortgage, or ARM, and the interest rate fluctuates periodically over the remaining life of the loan. http://online.wsj.com/public/article/0,,SB111814708129252836-y2n_R7CrGJHroutOCSsSxQYj0wU_20060609,00.html?mod=mktw