Logan Martin Lake Topics: article on highend housing

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	Name:	Ulysses E. McGill -
	Subject:	article on highend housing
	Date:	2/4/2009 5:50:02 PM

You are correct that points on an advertised rate can be a leader that some companies use as bait and one should be cautious in the details. My wife's an accountant and researches this type of thing for clients to help them get the best deal, and there are many other questions to ask about fees (beyond points) involved. That being said, 5.5 with no points has been available within the last few weeks. 15 and 30 year conventional loans have been as low as 4.25 with no points (this is an unusual parity in these terms due to government earmarks). Rates are slightly higher now, but indications are that they will fluctuate lower again (more earmarks to come). One should also check with out of state companies licensed for business in Alabama as some companies are hungrier for business than others. A top credit rating is also a must.

...although I assume you know all of this, it's good info for those who don't. cheers.