Kenneth Harney, a columnist over at the Washington Post, put up this interesting piece recently:
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.