A Word To The Wise About Mortgages
Loans based on the London Interbank Offering Rate (LIBOR) have moved up only about.3 percentage points since January and now run just under 8 percent, while loans based on those hyperkinetic Treasuries jumped almost a full percentage point and are going for 8.25 percent. The laggardly cost of funds for Western banks has barely budged. You can snag one for about 7 3/8 and expect less volatility in your annual adjustments....