There are a few sharks swimming in the Mortgage waters. According to researchers here are some figures: 50% of all mortgages are now 3 Years old or less. 50% of all mortgages in 2004-2005 were Arms. 43% of the Mortgages were with NO MONEY DOWN ! 10 Trillion Dollars worth of Mortgages were done in 2002-2004. What this mean to you as a borrower or home owner is there is trouble ahead for many borrowers. As the housing market cools down and prices stop jumping up in double digits and go back to normal (3-4% per year) many borrowers will be facing problems when their Arms adjust after 3-5 Years. It could be harder to refi if there is not as much equity built up and you run into any financial problems. Some are starting to come due now with a 2% jump on Interest Rates. We are also starting to see more Mortgage Fraud in the Industry. We still advise getting your credit score up and saving for at least a 5% down payment. Have you been working on those credit scores? If you are working on your credit you need to stay on top of it by checking it at My Fico.Com or Equifax. It can make your future a lot more trouble free. www.rateinformer.com