The LA Times reports today that mortgage rates continue to climb a bit, up from 6.6% last week. Interestingly, even though there’s bound to be more profit in ARMS, the industry charges more points for them and pays more to Mortgage Brokers. Points for 15 and 30-year mortgages average 0.5 pays points, one-year ARMS are at 0.7, and five-year ARMS at 0.6.
- What’s Ahead for the U.S. Economy?
- How to Know When Residential Real Estate Will Rebound?
- Countrywide Takes the Lead
- Behind the Curtain of the Credit Crunch
- Apparently, It’s All About Trust
- Where O’ Where Did MY FICO Go?
- Bernanke: No Subprime Woes
- Q&A About Subprime Mortgages
- Opportunities in the Subprime Implosion
- Piggyback Fall-off + Uncle Sam Spikes Mortgage Insurance