Arizona Mortgage Rates Roundup September 26, 2008

Arizona Mortgage Rates for September 26, 2008. (BK-0907309)

Mortgage Related News For The Week:

The big news of the week is the Federal Government bailout plan is close to being finalized.  Love the idea or hate it, it looks like some form of the proposed bailout is going to happen. We expect to hear the details of the plan possibly as soon as next week, so stay tuned for our analysis of what the bailout means to you once it is finalized.

Also, yesterday it was announced that Washington Mutual was being taken over by the FDIC and it’s assets were being sold to JP Morgan Chase.  This will make JP Morgan Chase the second largest bank as measured by deposits in the US.

Tom Vanderwall does a nice job of explaining what this means to people who have a mortgage or money with Washington Mutual on the Zillow Mortgage Blog.  This failure is the largest bank failure in US history and will impact many people who have deposits there, so if you have money or your mortgage with Washington Mutual, make sure you know what this takeover means to you.

What is on tap for next week? The world is coming to an end.

Just kidding.

Maybe.

We are living in strange times.

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