Fixed rates have drifted just a bit lower today. It seems that 5% with 0 points is truly coming into sight for most borrowers. Recall the rate lock period does determine your rate and very short rate lock periods are priced below 5% but you must close in 7 days. That is only possible if you appraisal is done and your loan is already approved. Get those apps in to have the best shot at lowest rate!
Also- this article on mortgage cramdowns is frightening in a "hey that's not fair" way.
http://money.cnn.com/2009/02/23/real_estate/mortgage_bankruptcy.reut/index.htm?postversion=2009022321
One man's burden is another man's cramdown I guess.
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