SUBPRIME MORTGAGE RATES - VOLUNTARILY FROZEN? has an article out today about the efforts being made by lenders on adjustable rate mortgages to "freeze" frozen%20seal.jpg interest rates in order to slow down the foreclosure rate.  Read it here.

The article discusses who benefits and who doesn't.  Of course in the short term, borrowers would benefit.  I am no economist, but my sense is that in the long term it is all going to come back to haunt the bank and the borrower, no matter what is done.