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Are Mortgage Rates really getting better

Every day I read news on Mortgage Rates getting better but is it really. This week they are saying it's lower than last week but what they are falling to say is that it's getting better for people with over 700 credit score. As we all know the average borrower do not have over 700 score. Gone are the days that borrowers with 580 score can get a 100% percent loans. The score requirements for loans have increase therefore the interest rates for lower scores have increase. So I pose the Question are rates really getting better

Posted by Caryll Miller ( Mortgage Specialist!) on 03/29/2007 02:01 PM

Comments (4)

mortgage rates

4 Comments on Are Mortgage Rates really getting better

MAR

2007

not for anyone in the sub prime market.

the rates arent getting worse but the guidelines are getting strict.

as you can see many sub prime lenders have either gone out of business, made it very difficult to get 100% or just done away w 100% products to lower their risks.

there are still some that are aggressive in sub prime 106% lending. First Franklin still does. 600 fico score. but Delta no longer does, WMC does not, Freemont and new century are gone........

DOMINICK GACCINO

Branch Manager

First Suffolk Mortgage Corp