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Mortgages May Now Cost An ARM And A Leg

mortgagechain [1]

A sign that lenders are growing concerned with the housing market, some have raised their requirements [WSJ] [2], especially specialty financing products like option ARMS and interest only mortgages. These moves come as the Federal Reserve has begun to raise concern about rising risk levels in the housing market but has been careful not to upset the housing market [Matrix]. [3]