Mortgage Rates Fall

Mortgage rates were impacted by the news that the government would take over Freddie Mac and Fannie Mae. According to Bankrate.com, a 30-year fixed mortgage dropped from 6.55% to 6.2% when the market opened on Monday September 8^th.

Read more in Marketwatch, Mortgage rates fall on Fannie, Freddie Rescue.

Jerry Howard, chief executive of the National Association of Home Builders, in an interview Monday said the government action was “a very important first step” that will help ease mortgage rates and restore confidence in the debt of Fannie and Freddie. The government bailout was aimed at lowering mortgage rates and assuring that home loans would be available to consumers. This is good news for consumers looking to buy a home. There are currently more homes on the market, and low rates. It is the perfect time to take advantage of a buyer’s market.

If you are considering a home purchase, it is important that you qualify for the lowest rates available. You can do this by taking control of your credit rating. Credit Report Repair services are just another way of optimizing your position and taking advantage of the current mortgage market.

Find out your options with a free phone consultation.

Tags: Credit Repair, credit report repair, fannie mae, freddie mac, Home Purchase, housing market, mortgage rates

This entry was posted on Wednesday, September 10th, 2008 at 3:47 pm and is filed under Credit Repair, Home Loan, Mortgage, Rates. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.