29 March – 4 April 2009 Interest Rate Information Milwaukee Area

I was talking to my mortgage broker Kevin McSwain from Quest Home Loan Center and he said that while interest rates are lower,  most people will not qualify for the lowest of rates unless they are 80% loan to value or better and have credit scores above 750.  Another factor is the amount of money that is being financed.  Smaller loans often times will not qualify for the lowest rates.  Also if you are refinancing vs. making a new purchase most of the time the interest rate will be higher as well.  How low will the rates go?  I guess we will see in the coming months.

Source: Real Estate Section Milwaukee Journal Sentinel 29 March 2009