Released: June 09, 2012
In era of cheap money, consumers are shut out
Source: Tara Siegel Bernard, New York Times
Michael Shreve, a 57-year-old science teacher in Marysville, Wash., has watched helplessly as mortgage rates have fallen. He said that despite his stellar credit score, no bank had been willing to let him trade in his 6.35 percent 30-year mortgage because his house was now worth less than when he bought it.Read Full Article: In era of cheap money, consumers are shut out