56% of the 8 out of 10

Wells Fargo & Co. did a survey of property owners with ARMs. Survey shows that 8 out of 10 are worried about their interest rate rising, but only 56% said that they would refinance when the rate changes. 21% said they would take no action when their rate adjusts. The survey found that only 14% of respondents had ARMs.

I wonder if this speaks more about the quality of the loan officer (broker or banker) than it does about homeowner's concern over a rising housing payment.

Anyway, it is important for those with ARMs to have a plan for when their rate adjusts, even if the best action is to do nothing.