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 October 04, 2007

Borrowers Who Have Good Credit are Wooed by Banks
James Chessen, chief economist for the ABA (American Bankers Association) reports that banks have plenty of money available for borrowers that have great credit scores and desire a conventional fixed rate mortgage.
In an effort to attract these potential customers, lending institutions are offering competitive interest rates, fee waiver, and a willingness to negotiate.

Banks prefer conventional borrowers. These customers tend to take advantage of other products that the banks offer, such as credit cards, savings accounts, and checking.

There are great deals out there in the lending world and borrowers with great credit owe it to themselves to shop around.

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