Thursday, September 14, 2006
Adjustable Rate Mortgages
8-15-2006 http://www.floridaonlinemortgages.com
“It looks like the worst is behind us and sales are starting to level off”, says David Lereah, chief economist for the National Association of Realtors.
Business Week says, "In addition, rising interest rates are pushing up the payment on adjustable-rate mortgages. As interest rates increase, mortgage payments increase. Between $400 billion and $500 billion in ARMs are due to be reset by the end of 2006. The following year will be even more dramatic, when more than $1.5 trillion will be reset.”
The Wall Street Journal says, “The portion of adjustable-rate mortgages that were at least 90 days past due has climbed 141% in the past year, according to a recent study by Credit Suisse that looked at loans made to borrowers with good credit. That compares to a 27% rise in such delinquencies for fixed-rate mortgages.”
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“It looks like the worst is behind us and sales are starting to level off”, says David Lereah, chief economist for the National Association of Realtors.
Business Week says, "In addition, rising interest rates are pushing up the payment on adjustable-rate mortgages. As interest rates increase, mortgage payments increase. Between $400 billion and $500 billion in ARMs are due to be reset by the end of 2006. The following year will be even more dramatic, when more than $1.5 trillion will be reset.”
The Wall Street Journal says, “The portion of adjustable-rate mortgages that were at least 90 days past due has climbed 141% in the past year, according to a recent study by Credit Suisse that looked at loans made to borrowers with good credit. That compares to a 27% rise in such delinquencies for fixed-rate mortgages.”
Real Estate Search Free at http://www.topteamweb.com
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Your blog entry was very interesting. I am a realtor specializing in Tampa Bay Florida Real Estate .
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