No Free Mortgages - 2004-03-05
Dear Dr. Don,
I plan to refinance my mortgage and do a small cash-out. I am searching for a 7/1 or 5/1 ARM interest only, and no prepayment penalty.
Lucille Low-rate

Dear Lucille,
No-cost mortgages aren't free, so there's no such thing as a true no-cost mortgage. The expense is tacked on to the loan amount or included in the interest rate.
Read the full story at Bankrate.com

Lenders, Homebuilders Shares Higher - 2004-03-05
Shares of homebuilders and mortgage lenders are currently at or near 52-week highs Friday morning, beneficiaries of a bond market rally that followed a very weak employment data reported by the U.S. government.

Countrywide, whose shares were at $40 a year ago, was recently up $4.36, or 5%, to $97, a new 52-week high. The company has seen its business explode as homeowners repeatedly take advantage of lower interest rates to refinance mortgages.
Read the full story at TheStreet.com