Re: Financing Contingency Issue

$cott wrote:

Given that (a) 6.75 is a very good rate (with 7% being the
midpoint of what I call typical rates) and (b) 6.75 is a
market rate (as opposed to a high risk rate), I think backing
out was a pretty poor thing to do. If a 1/4 point make all
that much difference in your ability to purchase the place,
then I suggest that you are looking at something that is far
more costly than what you can afford.

-john-

John,

Actually 6.75% (I assume this rate is a no-points purchase loan) is not
a very good rate, it is a very high rate even for the today's market
(Yes, it is a very good rate historically speaking).

So what is a very good rate, in today's market?

-jav
.