Just How Bad is the Mortgage Market?

Through the constant onslaught of dire news in the mortgage markets, did you notice that the average 30-year fixed-rate, conforming mortgage rate was 6.20% according to Freddie Mac? Compare this with the average rates each year since 2000: Period Rate November 21, 2007 6.20% 2006 6.41% 2005 5.87% 2004 5.84% 2003 5.83% 2002 6.54% 2001 6.97% 2000 8.05% Not too bad! Of course, lending guidelines are now more strict. It’s more difficult and more expensive to [...]