Adjustable Rate Mortgage Blog February Archive

Mortage rates decline

02/27/09 07:35

Mortgage rates further declined this week following a series of cuts in recent months. Rates on 30-year fixed-rate mortgage rates declined from 5.16% last week to 5.04% this week, while 15-year fixed-rate mortgage rates declined to 4.68% this week from last week's 4.81%, according to mortgage company Freddie Mac.

A more detailed report about the mortgage rates can be found here in LATimes.com

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Number of mortgage fraud cases to rise exponentially, says FBI

Where there's a crisis, there are wrongdoers trying to cheat money out of the pockets of people who are already having a hard times with their finances.

As such, there is and there will be an exponential rise of cases in of mortgage fraud, according to the FBI. At this point, the agency is handling 1,800 open investigations regarding mortgage fraud cases, more than double of the previous year.

Link: Bloomberg.com: U.S.