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“So Obama’s rate was 30 basis points better than the average. However, the amount of the loan and the nature of the property are not the only factors that determine a mortgage rate. Another major consideration is the creditworthiness of the borrower. According to current rate quotes from myFICO.com, a borrower with very good credit can expect a mortgage rate about 30 basis points better than someone with pretty good credit, and a borrower with excellent credit can expect about a 50 basis point discount.” [Also: n.b.]
Well, he probably has a better credit record than John McCain. (Update: I totally forgot that McCain’s at least $100K in the hole and is paying 25.99% on one card that has $10-15K on it. Hell, I’ve got better credit.) Still: what could Northern Trust have gotten out of giving a wealthy author/senator and his well-employed wife a good rate on a loan? What sneaky things might they have been up to?
