Vanished!!

I can't believe that my last entry was March 6th!! Sorry - I bet that you thought that I had vanished...nope....still here trying to read thru and sort out all of the changes that are occurring!

I just wanted to give you a quick update on the rates - in general over the last month the rates have been oscilating between 6 - 6.50%. NOW, please let me disclose that this is the BASE rate - one of the biggest changes to take place in the mortgage industry is the addition of what are called "delivery fees" - what this means is that there is an adjustment made on the rate or fee structure of your mortgage for EVERYTHING from credit scores, to the type of loan, to your loan to value.

Certainly isn't making anything easier in the lending world.

The recent Fed rate cut didn't do much for mortgage rates, other than try to provide more liquidity to the credit markets - in other words, keep things from getting worse.

I will continue to keep you posted and for those of you on the Rate Watch Monitor, I will most certainly make you aware of advantageous drops in the rate when or if they occur.