So, in my Inbox this morning:

Freddie Mac reports a modest decline in mortgage rates during the week ended Aug. 2, with the 30-year fixed rate falling to a one-month low of 6.68 percent from 6.69 percent.

The five-year adjustable mortgage rate slipped to 6.29 percent from 6.30 percent, and the one-year ARM slid to 5.59 percent from 5.69 percent.

Well, that's out-dated info, or irrelevant, as of today.

My understanding is that loan rates have zoomed up at least a quarter of a point, or more, over the past 24-hours. I heard that one major lender upped their main fixed-rate loan by 1%.

Also today, the Wall Street Journal published an article including the ominous term, "credit squeeze".

That's a very very very very very dangerous term.

Source: Mortgage-Rate Drop Is Good News for Home Buyers - By Jeannine Aversa, Mail Tribune (Ore.), by way of Realtor.org