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Latest News from the Mortgage & Loans Industry

In this section we look at the latest news from the mortgage industry including latest interest rates, what's happening with sub prime mortgage borrowers, appreciation & depreciation of real estate in the United States, changes in the Adjustible Rate Mortgages and the effects of these on individual consumers.

Spread Widens between 30 Year Fixed & 5 Year ARM
(February 28th, 2008)
The spread between the 30 year fixed mortgage & the 5 year Adjustable Rate mortgage continues to widen in this commodities bull market where the price of oil, gold, grains & basic materials continues to go through the roof. In Bankrate.com's rate survey for the week of Monday February 25th, 2008 the 5/1 hybrid ARM stood at 5.77% while the rate for 30 year fixed mortgages stood at 6.37%. At the beginning of 2008, both mortgage products stood at roughly 6.14%. This means the 5/1 hybrid ARM is becoming cheaper for investors to borrow and with which to finance their homes.

Mortgage Interest Rates Fall 10 Basis Points to 6.07%
(January 3rd, 2008)
Mortgage interest rates fell to their lowest levels in 4 weeks thanks to the bad news revolving around the economy, the subprime mess in the mortgage market as well as high inflation in oil, gas, groceries & commodities. The average interest rate on a 30 year fixed term mortgage fell 10 basis points from 6.17% to 6.07% (Source: Freddie Mac). The average origination fees and discount points of 0.5% remained unchanged from the last survey conducted by Freddie Mac. The average mortgage interest rate on a 30 year fixed term at this time last year was 6.18%.

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