The Mortgage Bankers Association (MBA) released its Subprime Mortgage Originations Survey this week, which shows the percentage of subprime loans featuring a fixed-rate grew during the first half of 2007 while adjustable rate mortgages decreased.

According to the survey, the percentage of subprime loans with fixed rates “grew 31-percent (in the first part of 2007) from 25-percent in the second half of 2006.”
Here are a few other statistics from the survey:
(Source: MBA Subprime Mortgage Originations Survey)
During the first half of 2007, 64-percent of subprime originations were for refinancing, which is an increase when considering the percentage hovered at 55-percent in the second half of 2006.
Thirty-two percent of subprime purchase loans were issued to first-time home buyers, which is unchanged from the second part of 2006.
While adjustable-rate mortgage loans accounted for 69-percent of subprime originations in the first part of the year, that’s a decrease when considering they made up 75-percent of subprime originations during the second half of 2006.