Rate Update March 4, 2008 w/ industry updates

There are a lot of important topics to cover this morning:

*The mortgage industry is going through another round of credit tightening that will further restrict our ability to provide 100% financing. This time the tightening is being initiated by mortgage insurers. Watch today’s you tube video to understand who will be impacted.

*Yesterday Fannie Mae & Freddie Mac reached agreement with the NY Attorney General on new appraisal rules. Watch today’s video to see what the rules say and what it might mean for the mortgage industry.

*Surprise comments out of Ben Bernanke this morning could have huge implications on the mortgage industry and interest rates. Watch today’s you tube video to find out what he said why it could negatively impact mortgage rates.

There are more Fed officials speaking later today. As investors show more concern over inflation these speeches get more attention and can have a larger impact on the market.

Current Outlook: locking