The Connection Between Credit Scores and Interest Rates

In July 2009, Catherine Calame, a 44-year-old marketing director from Bayport, NY decided it was an ideal time to refinance. Interest rates were low and she wanted to consolidate her original home loan and a home equity loan, moving them from a 30 year to a 15 year. Calame says her credit score, sitting pretty at 760, played a pivotal role in snagging such a great rate -- 4.5 percent over 15 years. "Even the