Guest Column from Justin McHood.
Is that interest rate you just saw on that advertisement too good to be true?
Have you recently seen an advertisement recently that caught your eye by saying something like “4.5% INTEREST RATES AVAILABLE” only to find out when you call the number that there isn’t a 4.5% interest rate available?
It happens all the time.
And there are two possible reasons for this:
- The 4.5% interest rate was never really available in the first place
- The 4.5% interest rate was available – on the day that the advertisement was printed and mailed
Since I happen to be a mortgage guy myself, I will give whoever-printed-the-advertisement-that-you-saw-with-4.5%-on-it the benefit of the doubt… and here is a simple explanation of how this could happen. [Read more...]
