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Pay Option ARM Recasts: Is There More Pain on the Horizon?

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Permitting, Construction Starts Up Modestly in January

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Option ARMS

Pay Option ARM Recasts: Is There More Pain on the Horizon?

Our analysis shows that there are still a substantial number of mortgages at risk of distress or foreclosure. One particularly troubling area concerns a type of product known as the payment-option adjustable-rate mortgage (option ARM). These loans are about to make a splash in mortgage delinquency numbers....

Published Fri, Jan 01 2010 1:04 PM by Jason Pickart

Filed under: Option ARMS, time bomb

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Mortgage Rates:

30 Yr FRM 3.88%
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15 Yr FRM 3.25%
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Jumbo 30 Year Fixed 4.14%

MBS Prices:

30YR FNMA 4.5 106-20 (-0-06)
|
30YR FNMA 5.0 108-01 (-0-05)
|
30YR FNMA 5.5 108-30 (-0-03)

Recent Housing Data:

Mortgage Apps -1.01%
|
Refinance Index 0.83%
|
NAHB Builder Confidence 16.00%

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