ARMs are hot, but not hot deals

Article Abstract:

Majority of home buyers still prefer to apply for adjustable-rate mortagages (ARMs) even if they are becoming less of a bargain because of rising costs and greater risks. ARMs can be attractive to borrowers because they are given lower initial interest rates in exchange for shouldering the risk of future interest rate increases. Popularity of ARMs among home buyers may start to decline because of the upward trend of mortgage rates that narrows the spread between interest rates of short- term ARMs and 30-year fixed-rate mortgages.

Real Estate Credit, Mortgage Bankers

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Credit cards add to debt in double digits

Article Abstract:

Credit card debt continued to increase at a double-digit rate in Mar 2001. The trend is a sign that American consumers may be looking to plastic to get them through lean times. According to the Federal Reserve, consumer debt grew in March at an annualized rate of 4.7%. The figure is less than half the growth rate of February and below what most economists were expecting. However, the monthly growth in consumer debt is notable since credit cards accounted for all of it.

Commercial Banking, Commercial Banks

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Real estate funds make big comeback

Article Abstract:

Real estate mutual funds made a strong rally in 2000 due to huge demand for office space in major cities across the US. They registered an average return of 25.6% for the year, as against a decline of 1.7% for the average stock fund. Security Capital US Real Estate was the top-performing fund in 2000, sustaining an annual return of 35.8%. Besides office space, fund managers said they made profits on apartments, hotels and motels.

Real Estate Invest Trusts, Real Estate Investment Trusts

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