Hipoteca - There continues to be "Eye Browse Raising" concerns over "Exotic Mortgages". Exotic mortgages are big ticket mortgages or sometimes "Creative Mortgages".

Despite the temporary interest rates brakes being applied by the FED, economists and representatives from the National Association of Realtors raised red flags about "exotic" mortgages and rising interest rates, energy prices and house prices, though they said they do not expect a doomsday scenario for the nation's housing market.

Blacks and Hispanics were more likely than whites to take out higher-priced home loans in 2005, while Asians were slightly less likely to borrow money on such terms, according to a Federal Reserve report.

According to data lenders provide to the government, 54.7 percent of African-American borrowers took out "higher-priced loans," compared with 17.2 percent of whites in 2005. Hispanics took out higher-priced loans 46.1 percent of the time, compared with 16.6 percent for Asians.