Where's the Story?
A story in yesterday's Washington Post seems to imply that there is something nefarious (or at least newsworthy) about the fact that Barack Obama financed the purchase of his Chicago home with a mortgage loan that Northern Trust extended at an interest rate that was "below the average" interest rate offered at the time for 30 year fixed rate loans. He paid 5.625 percent while the average was 5.93 percent.
As this response points out, interest rates are determined in part by creditworthiness. Senator Obama, with a good job, the recent sale of a condo, a recently signed book deal that promised to give him more than the price he paid for the house, little debt, and (presumably) a strong credit history, was extraordinarily creditworthy. So where's the story?
- Original article
- FILED UNDER: Guest Blogger
- July 2, 2008
The RepubliCANTs just cant deal with
...a black man with a near-perfect credit score. It's so far beyond anything they're capable of comprehending that they absolutely HAVE to call him a crook, because that's the only thing that fits their incredibly tiny world-view.
If all else fails, immortality can always be assured by spectacular error. ~~~John Kenneth Galbraith
- parent
By nonexistent manJuly 2, 2008 - 5:55pm