Up and Up Go US Mortgage Rates

US Mortgage rates set to reach as high as rates last seen in the spring of 2010

Rates for a 30-year fixed-rate mortgage averaged 4.8 percent this week

The market future looks to be set to slow up even more – is that possible! – rising mortgage rates will not stimulate the housing market – in fact it is likely to have the opposite effect and push potential new buyers to bunker down and wait for better mortgage rates and housing market buoyancy and sector trading confidence

FRB Consumer Handbook on Adjustable Rate Mortgages

This website gives you an overview of ARMs, explains how ARMs work, and discusses some of the issues that you might face as a borrower. It includes:

  • ways to reduce the risks associated with ARMs;
  • pointers about advertising and other sources of information, such as lenders and other trusted advisers;
  • a glossary of important ARM terms; and
  • a worksheet that can help you ask the right questions and figure out whether an ARM is right for you

http://www.federalreserve.gov/pubs/arms/arms_english.htm

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