Mortgage rates have climbed and are expected to climb at a slow rate over the next several months with the retirement of Alan Greenspan. If you are considering selling your current home and buying a new home, it is advisable to lock in your rate as soon as possible to assure the best possible interest rate on a new loan or refinancing an existing loan. Knowing your credit score and upgrading your credit history are also important aspects of obtaining the most favorable mortgage rates. The first step in the process is making sure that you have a current copy of your credit report. Congress recently amended the Fair Credit Reporting Act so that consumers may now receive one free credit report annually.
Go too ww.annualcreditreport.com to request your free copy for 2006.
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