Homebuyers who choose balloon mortgages instead of
Freddie's mid-August survey of about 90 lenders found that 63% were
The five-year product provided homeowner savings of $457 a year; the
Balloon mortgages usually require a 10% down payment and have a 30-year
Interest is growing in these mortgages because of rising interest
In July balloon mortgages accounted for only slightly over 1% of
The company said it bought $2.5 billion of balloon mortgages in 1998,