adjustable rate

Customers duped by a California mortgage broker's ads for low mortgage rates are receiving refund checks from the Federal Trade Commission (FTC). Chase Financial Funding Inc. -- which now does business under the name Choice Financial Funding and is not related to banking giant Chase -- lured...

With rate resets kicking in on a raft of exotic adjustable-rate loans, delinquencies on jumbo mortgages for high-end homes nearly tripled to 9.2% in December 2009 compared to the 3.2% rate December 2008. And the number of expensive homes on the market continues to rise.

Not all mortgage rates are created equal. There is a time and a place to consider an adjustable rate mortgage vs. a fixed rate. If you have short term plans to pay off your loan in full then an adjustable rate may save you money over the term of the mortgage. If you're planning on keeping your...