Wednesday, June 13, 2007

Suddenly 30-year fixed mortgages look good -report

(Reuters) - Thirty-year fixed-rate mortgages provide certainty and
security, features that had been of little concern to many
home buyers and owners who tapped initially less expensive
adjustable-rate mortgages during the housing boom of recent
years to buy houses and refinance mortgages.




Now with the housing market in an extended slowdown, in
part because so many adjustable-rate mortgages are in default
as "teaser" interest rates have lapsed and monthly payments
have soared, home buyers and owners are taking a second look
at long-term, fixed-rate debt and are liking what they see,
according to Wharton School Professor Susan Wachter's U.S.
Mortgage Payment Index.


Read more at Reuters.com Bonds News

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