According to the Mortgage Bankers Association., nearly 25% of all US mortgages - 10 million - carry adjustable interest rates, and most of them went to people with subpar credit ratings who accepted higher interest rates. These ARM Mortgage borrowers are often shocked when they started to see their mortgage payment balloons at the first rate adjustment.

Banks in China has just started to offer Fixed Rate Mortgages to both commercial and residential customers. One of the first movers is the China Everbright Bank (CEB).