Better drop your credit score under 680 Lie!
Previously, I wrote about new rules on mortgage rates in which the better your credit score, the higher your effective interest rates. This is an update...Lie!
New Rule: The Better Your Credit Score the Higher Your Mortgage Rate
Please consider New Rule: The Better Your Credit Score the Higher Your Mortgage Rate Lie!
FACT!
Before May 1, 740 pays 0.250% charge, afer May 1, 780 pays 0.375% charge
Before May 1, 639 Pays 3.25% charge, after May 1, 639 pays 2.875% charge
So the rate differences between 780 and 639 is 3% LOWER before May 1, and 2.5% LOWER after May 1.
