Rising Interest Rates, Slower Home-Price Gains May Pinch U.S. Consumers - 2005-03-04
U.S. consumers are finding it more difficult to tap the value of their homes to pay for cars, televisions and vacations, which some economists say may restrain economic growth later this year.

Cash-out mortgage refinancings, in which homeowners take out a portion of the increased value of their home in one lump sum, may decrease 30 percent this year, according to McLean, Virginia- based Freddie Mac, the second-biggest buyer of home mortgages.
Read the full story at Bloomberg

Be prepared for adjustments in mortgage pricing - 2005-03-04
Clients will often see an ad in the paper for a mortgage loan program from a lender and be enticed by the low interest rate. However, when they call the lender they are quoted a much higher price.

In the mortgage business, price adjustments are quoted one of two ways. The most common is by increasing the number of points one pays for a loan. The second adjustment, although less common, is an increase in the basic interest rate.
Read the full story at Auburn Journal