Congress forgets role in $350B whodunit

Commentary: TARP tells tale of too little, too late

On Wednesday morning mortgage rates collapsed close to 5 percent — just under for fee-heavy deals, just above for fee-light, and all were a tad higher today.

Some notes on mortgage pricing:

These super-low rates are limited to 740-plus FICOs and 80 percent or less loan-to-value. Fannie and Freddie, despite 90 days in federal hands, still maintain punitive FICO pricing — 695 FICOs have to pay a fee just to get 5.5 percent.