Adjustable-rate mortgages, particularly those made in the late 1980's, account for many of the reported problems.

This, in turn, forces them to pay higher interest rates for the first years than with an adjustable-rate mortgage.

And most adjustable-rate mortgages are not based on the prime rate.

Adjustable-rate mortgages were introduced at the beginning of the 80's.

Adjustable-rate mortgages in the region are currently about 9.6 percent for the first year.

The main choice is between a fixed- or adjustable-rate mortgage.

By comparison, the average rate on an adjustable-rate first mortgages is 5.58 percent.

About 30 percent of the mortgage market is adjustable-rate mortgages.

Rates on adjustable-rate mortgages also have dropped - but not as much.

Interest rates for adjustable-rate mortgages fell to 8.94 percent, down 4 basis points.