Rate Update for August 20, 2008
Rates are modestly lower this morning.
Renewed credit worries have helped mortgage rates remain low in the face of hot inflation data. Here are links to the articles that were referenced in today’s rate update video:
–Blog posting & link to Sunday’s Barron’s article regarding the inevitable nationalization of Fannie Mae and Freddie Mac (this article had kicked off renewed credit worries and likely caused the 20% drop in Fannie Mae and Freddie Mac stock prices on Monday).
–Associated Press article about “liar loans” (appeared in Oregonian yesterday as well as yahoo.com and other news sites).
–Blog posting regarding tax holdbacks (please feel free to write a comment on my blog and/ or pass along to others who would benefit from this information).