Mortgage-Index Quirks Prove Costly.

Authors :: Mollenkamp, Carrick
Source :: Wall Street Journal - Eastern Edition. 2/4/2010, Vol. 255 Issue 28, pC1-C3. 2p. 1 Chart.
Publication Year :: 2010
Abstract: The article discusses how some holders of variable-rate mortgages in the U.S. can experience significantly higher rate hikes than other persons with similar loans. Different mortgage indexes are used to recalculate loan rates, and these indexes do not always move in unison. As a result, monthly payments for seemingly identical loans can vary by as much as 25%.