The 4.5% mortgage myth?
Perspective: Borrowing into trouble easier than borrowing out
By Lou Barnes, Friday, December 19, 2008.
Flickr photo by Moe.The Fed's cut to "zero to 0.25 percent" cost of money and non-response in the mortgage markets combined to produce consternation among a refinance-hungry public.
Excepting a frantic hour at no-fee 4.75 percent on Wednesday morning, mortgage rates remain as they have been for 10 days, roughly 5 percent with an inescapable origination fee. And that deal is available only for the best FICOs and loan-to-values.
more...
Premium Member account.
Premium Members have full access to all news archives.
Buy Now Purchase 1-year Premium Membership - $149.95
OR
Buy Now Purchase Monthly Premium Membership - $19.95
All rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.
