Interest Rates-Post Election

Well now that the Presidential election is out of the way, everyone is going to
get back to the main business at hand. How to make a living, sell a house, buy
a house or GET A MORTGAGE.

I'm happy to say that 30 year interest rates (this is the day after the election)
are at around 6.00% That's the good news. The not good news is that lenders are
still underwriting to very very strict guidelines. Income, credit, and down payment
are all equally important.

There is much talk in the government to use the 700billion bailout funds to help
individual homeowners with their bad mortgages or their negative home equity.
Stay tuned on that subject.