Mortgage Daily

Considering that the chart was put together in 2006, how many of those loans have already been refinanced at fixed rates ? How many more will be refinanced now that rates are around 5% or less? How many of those belonged to … People are seeing their rates reset from 3 or 5% to 9 or 11%. Very, very few people can afford their mortgage payment to double or triple, and with the drop in housing values, lots of people can’t refinance  these mortgages to get from under the hammer. …

Excerpt from:
Mortgage Crisis Over? Please, It’s Just Beginning

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