MCC A Better Alternative Than Oregon Bond? Maybe, With The Newest Interest Rates

The State of Oregon's Bond Loan Program for first time homebuyers will have higher interest rates on Monday. Effective March 3, 2008, the RateAdvantage interest rate will go up to 5.40% and the CashAdvantage interest rate will go up to 5.90%.

I recently did an article comparing the Oregon Bond loans to the Mortgage Credit Certificate. With market interest rates headed downward and the Oregon Bond Loan interest rates headed upward, the scales just tipped in favor of the Mortgage Credit Certificate.

Unfortunately, Southern Oregon Counties and Cities are not participating in the Mortgage Credit Certificate. Maybe it is time for that to change! Off to call our local housing coordinators...

See you at the closing table!

Karen Cooper - OR/CA Mortgage Consultant - www.Quality4Loans.com