Mortgage mess unlikely to break U.S. economy - 2007-03-16
The news on subprime lenders keeps getting worse.
These companies, which serves customers with poor credit, often make loans with adjustable rates. When short-term interest rates increased in 2005 and 2006 and the housing market started to lose steam, many loan rates adjusted up. Subprime borrowers faced higher payments for homes that weren't worth as much. Result: The number of subprime mortgages failing to be paid on time rose 13 percent to 13.3 percent in the fourth quarter of 2006 vs. the year earlier.
Read the full story at Seattle Times

Refinance mortgage rates hold steady - 2007-03-16
Rates on 30-year refinance mortgage loans stayed at the lowest level since mid-December as investors waited for more concrete information on the direction of the economy. Mortgage giant Freddie Mac declared Thursday that 30-year, fixed-rate mortgages averaged 6.14 percent this week, unchanged from last week. For the last two weeks, 30-year mortgages have been at the lowest level since they averaged 6.13 percent the week of Dec. 21.
Read the full story at Contra Costa Times