Mortgage rates remain low. The 10 year bond was at 3.812% this morning. A 30 year fixed rate mortgage was available in Wisconsin for credit worthy borrowers with equity at 6.5%. APR 6.63% Fear of inflation and fear of Fannie Mae and Freddie Mac having trouble are driving the markets. A lot of the financial market turmoil this week is related to a Barons article over the weekend quoting an anonymous source in the Bush administration related to the financial strength of the quasi government mortgage finance companies. The mortgage giants have lost about 90% of their value this year. Mortgage money is widely available however and as we have said in the past credit quality is increasingly important so if your credit is not where you want it to be now is the time to improve it. If you want a free book on how to fix your credit contact me at wisconsinmortgages@gmail.com
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