Interest Only Mortgage Loans

Wells Fargo will increase the rate for Conf 30 yr fixed IO
tomorrow (That's the lender increase the
Jumbo 30 yr fixed to 8%, remember?).

I don't know whether it will increase the rate for any other ARM IO
programs? Will the other lenders follow?

Some lenders already used index+margin as the rate to
qualify the interest only loans. All other lenders
have to follow after Feb 2008. Seems like more
lenders will implement it much earlier than expected.

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• I think Interest Only is not worthy, my personal point of view -笨企鹅- ♀ (0 bytes) () 08/06/2007 postreply 17:45:11