Lehman Brothers & Merrill Lynch News Should Continue to Drive Down Mortgage Interest Rates

September 24, 2008

While last weekend saw the government takeover of Fannie Mae and Freddie Mac, this weekend brought on the collapse of Lehman Brothers (a 158-year-old investment bank) and the purchase of Merrill Lynch by Bank of America. Once again, the change in the financial markets most likely means mortgage rates are falling, according to Quicken Loans Chief Economist Bob Walters.