This weekend President Obama reiterated his pledge to help homeowners and to mitigate the mortgage crisis. But details are still lacking. See at Reuters article on the subject here. Here is a quote:
President Barack Obama’s pledge to help housing with a new financial plan spotlights the root cause of the deep U.S. recession and may earn public goodwill as he balances massive bank bailouts with help for homeowners.
Obama promised on Saturday to lower mortgage costs as part of a financial rescue effort he is unveiling soon to boost the battered economy
One thing the federal government has continued to do is buy mortgage backed securities which is keeping mortgage rates below 6%. That is a very good thing for homeowners looking to refinance. Contact us if you are interested in taking advantage of the unusually low rates for a refinance.
