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Mortgage Center Daily Update Mortgage Rate Update - September 29, 2008
Mortgage Rate Update - September 29, 2008 PDF Print E-mail
Monday, 29 September 2008 16:45

Well, it's Monday again.  From Fannie and Freddie bailouts to Lehman Brothers' collapse, it seems like Monday's have been busier than ever.

Well, Wachovia is now gone.  With the help of the FDIC, Citigroup has agreed to purchase Wachovia, one of the nation's largest banks.

The big news of the day will be the bailout plan, in the works with the Senate and House today, which is designed to inject much needed liquidity the financial markets--both home and abroad.

These are historic times and the volatility of the market reflects it.  Like never before, credit score has become the primary driver in mortgage rates.  With the high degree of inaccuracy in the credit scores themselves, it is time for a credit checkup.  Either contact us for a copy of your credit report or hit our credit verification section.  Just 30 minutes of verification can avoid staggering fees that are added to most loans for scores under 740 these days.


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