Released: September 27, 2007

Can’t say it’s a ‘mortgage meltdown’

Source: Kenneth Harney, Washington Post (Free Registration)

The term “mortgage meltdown” has become so common - on TV, in headlines and in casual conversations - that you might assume that this is a tough time to get a mortgage.

But the reality is starkly different: Mortgage money is plentiful; the majority of mortgage products remain relatively unaffected by troubles in the subprime segment; and interest rates for 30-year, fixed-rate loans remain in the low 6 percent range for people with reasonably good—not necessarily perfect—credit records.

Even interest rates on jumbo loans - those for more than $417,000 - have fallen after spiking this summer.

Read Full Article: Can’t say it’s a ‘mortgage meltdown’