Tuesday, April 8, 2008

Countrywide advertising can be deceptive?

I just saw an advertising on the MSN homepage for Countrywide that the key interest rates have dropped and it is a good time to refinance your home. This is the biggest blatent lie by a bank that I have ever seen. First of all there is no such thing as a no cost mortgage and secondly what the Federal Reserve is doing with interest rates has nothing to do with mortgage rates. If this were the case, the 30 year rate would be below 3%. Interest rates have everything to do with how the stock market is doing and not what the feds are doing. Shame on Countrywide for being bozos.

Shame on you Countrywide for slick advertising. Consumer Dave to the rescue.

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