Change in Contract Rate (bps) Effective Total Contract 1 Week 4 Weeks 1 Year Rate Points Rate Ago Ago Ago 30-Year Fixed 6.63 1.09 6.42 1 0 11 15-Year Fixed 6.38 1.16 6.10 0 -6 13 7-Year Balloon 5.86 0.83 5.65 10 20 -59 5-Year Balloon 6.18 1.01 5.92 -6 -10 -75 ARM, 1-Yr Tsy 6.75 0.93 6.52 0 82 60 FHA 203 (b) 6.71 0.99 6.54 9 0 18 All rates except FHA 203(b) are for 80% loan-to-value mortgage.

If you want a Subprime Bailout, do it Properly! (GoldSeek.com)
The administration’s plan to bail out homeowners with adjustable rate mortgages (ARMs) may make them slaves of their homes. We propose an alternative that we believe better serves both homeowners and the marketplace.