Adjustable-rate mortgages a gamble at today's low rate - 2004-03-07
When my wife and I opted for an an adjustable-rate mortgage over the fixed-rate variety 11 years ago, it was a gamble. How nice, then, to have our judgment confirmed the other day by Federal Reserve Chairman Alan Greenspan.

In a speech last month to the Credit Union National Association, Greenspan said a homeowner with an ARM for the past 10 years could have saved tens of thousands of dollars compared with the cost of a fixed mortgage.
Read the full story at Centre Daily Times

Consumer debt increase shocks' potency-economist - 2004-03-07
Significantly higher household debt in many countries in recent years is likely to magnify the effect of shocks to their economies, an article issued on Sunday by the Bank for International Settlements said.

"Households with debt will find it more difficult to maintain their mortgage payments through a period of unemployment, and hence will be more likely to default," he said.
Read the full story at Reuters via Forbes