Interest-only mortgages, exotic loans prove risky - 2007-01-05
David Moro and his wife maxed out their budget when they purchased their center-hall colonial in 2003. They opted for an interest-only loan, which keeps the payments low for the first 10 years, but will nudge up monthly payments in the future. The Moros dread that day. Many homeowners who have chosen interest-only and other exotic mortgages in the past few years are beginning to have second thoughts.
Read the full story at San Jose Mercury News

Refinance mortgage rates mixed - 2007-01-05
Rates on 30-year refinance mortgage loans were unchanged in the first week of the new year after registering three straight increases to end 2006.
Mortgage giant Freddie Mac revealed Thursday that 30-year, fixed-rate mortgages averaged 6.18 percent this week, the same as last week. The Freddie Mac survey indicated that other types of mortgage rates were mixed this week.
Read the full story at Buffalo News