The share of all mortgage loan applications with floating rates reached a high of over 30% in 2005, then dipped below 1% in late 2008. Adjustable-rate mortgage (ARM) application rates have hovered between 6% and 8% since around 2010, and as of early June ARMs made up only 6% of all mortgage loan applications. With fewer ARMs we will see a lot fewer short sales and foreclosures too.