Many homeowners refinance mortgage to fix from variable - 2007-02-02
Brian and Lisa Wilcock studied mortgage interest rates four years ago, did the math and came up with a plan: Since they intended to relocate within three years, they would do a refinance mortgage from a 30-year fixed-rate mortgage into a three-year adjustable-rate mortgage (ARM) at a lower interest rate and save hundreds of dollars a month. It worked until interest rates started to go up in order to cool down the housing market.
Read the full story at Grand Haven Tribune

Mortgage rates climb - 2007-02-02
Rates on 30-year mortgages touched their highest level since late October following release of more economic data indicating a stronger U.S. economy. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.34 percent this week, up from 6.25 percent last week. Mortgage rates are at the highest level since they were at 6.40 percent the week of Oct. 26.
Read the full story at Albuquerque Tribune