The weekly mortgage rate comment from Mickey Carlton:
Mortgage interest rates hit a two-year low on Monday, December 3, but have experienced an increase since that time time. Currently, thirty-year mortgages, without discount points, range from 6.25% to 6.75% depending upon loan size and creditworthiness of the borrower. Please note that Fannie Mae and Freddie Mac are instituting new policies regarding an individual's credit score. It is going to become increasingly difficult for lenders to quote an interest rate without "pulling" a potential borrower's credit report. Be prepared for possible grumblings from your buyers as lenders become more and more reluctant to price a loan without fully "diagnosing" the patient.
Thanks, Mickey! If you have any questions, please contact me through my website at: www.audreybutlerhomes.com.
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