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Abbey raises mortgage rates (Reuters.co.uk)
LONDON (Reuters) - Abbey has raised rates on some fixed-rate mortgages by up to 0.44 percent on the back of rising borrowing costs, just a week after announcing more rate cuts to lure new customers.
At any rate (Bankrate.com)
Rates remain great … should you act before it's too late? ARMs still worth it? Once the darling of the mortgage industry, adjustable-rate mortgages are getting tougher to obtain. Savvy -- and qualified -- buyers, however, still may find them worth the hunt.
David Prosser's Outlook: The incredible vanishing mortgage (Independent)
Move fast if you're on the look-out for a new mortgage and you spot a decent deal – blink and there's a good chance you'll miss it. Take Abbey, which just a fortnight ago cut the cost of its fixed-rate mortgages. Yesterday, in an abrupt change of heart, those price cuts were reversed.
Bankrate: Mortgage Rates Rebound (PR Newswire via Yahoo! Finance)
Fixed mortgage rates reversed the decline seen last week, with the average conforming 30-year fixed mortgage rate rising to 6.20 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.47 discount and origination points.
ARMs: No taboo for chosen few (Bankrate.com via Yahoo! Finance)
Adjustable rate mortgages catch much of the blame for skyrocketing foreclosures. But they're still a good choice for buyers in certain situations.
Help for mortgage holders in trouble (USA Today)
Rising payments from adjustable-rate mortgages, mounting job losses and an epidemic of unaffordable loans have thrown more homeowners into a dire situation: They're no longer able to pay.
Libor Proxies Gain as Traders Seek Truth With Swaps (Update3) (Bloomberg.com)
May 29 (Bloomberg) -- Traders are starting to use alternative measures for borrowing costs as the British Bankers' Association struggles to keep the London interbank offered rate as the global standard.
Abbey reverses rate cuts (BBC News)
Abbey reverses recent cuts in mortgage rates, as it and the Woolwich raise the prices of some new deals.
Mortgage applications down in week (UPI)
WASHINGTON, May 28 (UPI) -- The volume of applications for U.S. mortgages decreased last week, falling a seasonally adjusted 4.6 percent over a week earlier, an industry group said.
Homeowners turn backs on ARMs (Austin American-Statesman)
Mortgage refinancing in the U.S. is increasing as record numbers of homeowners dump their adjustable-rate mortgages for the security of a fixed rate.