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Articles Recently Tagged: ARMs

(5 posts)
Mortgage Rates Inch Up, 30-Year Rate Hits a 670-Week High

Mortgage Rates Inch Up, 30-Year Rate Hits a 670-Week High

As we noted last week, “the yield on the 10-year treasury inched up around 3 basis points since the Fed’s announcement, indicating the near-certain hike was already priced-in and should moderate any significant jumps in mortgage rates over the next week.” The average rate for a... Read More »

Mortgage Applications Tick Up, ARM Share Nearly Triples

Mortgage loan application volume across the U.S. ticked up 2.0 percent over the past week on a seasonally adjusted basis and 3.0 percent in the absolute, according to data from the Mortgage Bankers Association. That being said, application volumes to refinance were down 72 percent on a year-over-year basis... Read More »

Benchmark Mortgage Rate Hits 5%, First Time in Over a Decade

Benchmark Mortgage Rate Hits 5%, First Time in Over a Decade

The average rate for a benchmark 30-year mortgage jumped another 28 basis points (0.28 percentage points) over the past week to 5.00 percent, which is 196 basis points and over 60 percent higher than at the same time last year, over two (2) full percentage points higher than in... Read More »

Playing Chicken With A Five Year Arm (It’s Not Just About Rates)

Playing Chicken With A Five Year Arm (It’s Not Just About Rates)

While Chicken John Rinaldi’s Chez Poulet has been on the market for two months at $899,000, on Monday Laughing Squid added a bit of color with a quote from John himself: I’m caught in the mortgage crisis by association. I took a 5 year arm mortgage with a balloon... Read More »

We’re Raising The “Bubble Alert” Level To Yellow

We’re wishing we hadn’t already used-up our “An ARM (And Quite Possibly A Leg)” headline. Considering how alarmed we’ve been with the explosion of ARM financing, we’re down right terrified with the adoption of “option ARMs”. A couple of excerpts from today’s WSJ article “Sore ARMs? A Peek Inside... Read More »