Obama got preferred mortgage terms & rates. So what?
Obama Got Discount on Home Loan – washingtonpost.com
The freshman Democratic senator received a discount. He locked in an interest rate of 5.625 percent on the 30-year fixed-rate mortgage, below the average for such loans at the time in Chicago. The loan was unusually large, known in banker lingo as a “super super jumbo.” Obama paid no origination fee or discount points, as some consumers do to reduce their interest rates.
We got the same kind of deal. It’s what banks do for good credit risks. It’s not a crime, and it wasn’t a subprime loan. So get over it.
Here’s what annoys me about these reports: They imply some sort of wrongdoing when in fact, it was standard operating procedure. The spin always comes from a mainstream source, like ABC News or Washington Post, and it always centers on something that’s normal operating procedure, no more, no less.