Mortgage Rate Going Up

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10/22/2008 News For:

Mortgage Rate Going Up

If your adjustable-rate mortgage is linked to LIBOR, brace yourself  The London Interbank Offered Rate, or LIBOR, sounds like one of those funny British idiosyncrasies, like warm beer or the royal family. But if you have an adjustable-rate mortgage or a student loan tied to the LIBOR, you will not be amused by what's been happening to this index in recent weeks.

Mortgage Rates: Lock In or Float?  With the recent volatility in mortgage rates, it's difficult to know whether to sit tight or lock in a new rate when shopping for a new mortgage.

Credit firms gave mortgage-related securities AAA ratings despite flaws  Bond-issuer pressure contributed to grade hikes, documents at a House hearing show. Executives and employees at the major credit rating agencies were often aware of problems in the AAA grades awarded to thousands of mortgage-related securities whose downgrades helped plunge the nation into a financial meltdown.

Mortgage lenders 'pocketing cuts'  Consumer group Which? says most banks are not reducing their mortgage rates to reflect interest rate cuts.

Mortgage pain to 'hit one million'  A RECORD number of Australians are forecast to fall into mortgage stress despite interest rate cuts.

Which? urges bailed-out banks to pass on rate cuts   The consumer group Which? today called on the UK's bailed-out banks to pass on interest rate cuts to consumers. Following the multi-billion pound rescue package for failing UK banks , Which? has written to chancellor Alistair Darling demanding that those banks that received cash injections from British taxpayers pass on base rate changes to their mortgage customers immediately. ...

(AFX UK Focus) 2008-10-20 20:53 US Fed finalizes rule on mortgage rate disclosure  WASHINGTON, Oct 20 Reuters - The Federal Reserve Board on Monday approved final rules that require mortgage lenders to notify borrowers of the interest rate difference between between higher priced mortgage loans and comparable prime mortgages in many cases. The new Regulation C rules will require the disclosures to prospective borrowers if the the rate spread between prime and subprime loans ...

Volatile Mortgage Rates to Persist Until Year-End, Analyst Says  Oct. 22 -- Gyrating U.S. residential mortgage rates show no signs of stabilizing, according to Keith Gumbinger , a mortgage-research analyst in Pompton Plains, New Jersey.

Regulator warns on mortgage switching  The Consumer Director of the Financial Regulator, Mary O'Dea today warned that mortgage lenders must act in the best interests of their customers when providing advice on switching tracker mortgages to fixed or variable rate mortgages.

Meltdown 101: What are interest rate spreads?  When you go to the bank for a loan, your own credit history isn't the only thing affecting the interest rate. The rate the bank is paying on its own loans factors in, too.