What would be considered a "good" mortgage rate in this market?
Answers
3127 points
EthanR answered 2 months ago …
The answer to that question is "DEPENDS".
Depends on whether you are talking fixed rate or ARM
Depends on whether you are talking 15 year or 30 year
Depends on whether or not your credit scores are high
Depends on the price of the home
Depends on whether or not you are taking discount points or loan origination fee
Can you elaborate?
732 points
alanj answered 2 months ago …
The rate is determined on an individual basis. And until some kind of government bailout, loan, investment (whatever you want to call it) is done in regards to the bad mortgage paper it will be extremely difficult if not impossible to even get a mortgage. There are no free flowing funds available for the mortgages because there are no investors willing to invest in mortgages.
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