Credit scoring was developed in the 1960s as a means to determine whether or not consumers were likely to repay their loans. The score ranges from 350 to 850 with a higher score being extremely favorable. Essentially, a high credit score translates into lower interest rates for the borrower.
|Mortgage Interest Rates*|
|Rates as of Friday, 5th December, 2008:|
|*Rates are subject to change due to market fluctuations and borrower's eligibility.|
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