Tumbling Mortgage Rates resulting to tight market situation

TMortgage rates tumbled, as short-term mortgage rates shot up higher sending the share of variable rate applications tumbling.

The share of adjustable rate mortgage application sank though a big drop in yield of the 1year Treasury-indexed ARM may change that. However, latest report suggests that late payments on subprime adjustable-rate mortgages have increased for eight consecutive quarters and currently sit near 17%, while delinquency improved on the fixed rate mortgages and loans ........Click here to read more.....