federal reserve board: News You Can Use: Mortgage Rates and Market Opportunity - 11/15/07 04:50 AM
Freddie Mac Weekly Updates
 The 30-year fixed-rate mortgage (FRM) averaged 6.24 percent unchanged from last week when it averaged 6.24 percent as well. Last year at this time, the 30-year FRM averaged 6.24 percent.  Note: The 30 year rate has not changed since last year. The 15-year FRM this week averaged 5.88 percent . A year ago, the 15-year FRM averaged 5.94 percent. Note: The shorter term 15 year rate is lower by 6 basis points year over year.
Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.96 percent this week. A year ago, the 5-year ARM averaged 6.04 percent. Note: The short … (0 comments)

federal reserve board: Is the Fed Really Helping Homeowners - 11/08/07 05:32 AM
Chairman Ben S. Bernanke speaks before the Joint Economic Committee, U.S. Congress on the economic outlook on November 8, 2007 Developments in Financial MarketsChair of the Federal Reserve system spoke before Congress on Nov 8 to report on the state of the economy. I read the report and Here is a summary of what I got out of it.1. Financial turmoil was triggered by investor concerns about the credit quality of mortgages, especially subprime mortgages with adjustable interest rates.2. Delinquencies on these mortgages are likely to rise further in coming quarters as a sizable number of recent-vintage subprime loans experience their … (2 comments)