10/25/2006

No Change in Rates

The Federal Reserve maintained its hold on rates today, noting the cooling housing market, but still "feels the economy will expand." Because of this cooling market, some lenders are softening requirements for certain loans, which is the best opportunity for buyers with uncertain FICO scores in the low 600s. If qualified at a higher rate a while back due to that problem, take another look now, you may be qualified for a lower rate.

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