HERE WE GO AGAIN Wells Fargo Launches 3% Down Payment Mortgage

Bubble days are here again. The champagne is flowing. This is not what the downside of the Federal Reserve created boom-bust cycle looks like.

The nation's largest lender, Wells Fargo, has launched a new low down payment mortgage loan.

Branded "yourFirstMortgage," Wells Fargo's new product has a minimum down payment of 3 percent for a fixed-rate conventional mortgage of up to $417,000.

 -RW