According to Freddie Mac, mortgage rates continue to fall, making the rate on a 30 year fixed loan nearly a percentage point lower than a year ago.
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According to Freddie Mac, mortgage rates continue to fall, making the rate on a 30 year fixed loan nearly a percentage point lower than a year ago. President Obama is expected to announce a strategy to address the flagging housing market. His plan would allow for homeowners who are underwater, even those with less than stellar credit, to refinance their homes at lower rates and potentially reduce the principal balance owed. Well, we had to know when Ben Bernanke stated that QE2 would be the last of the Fed injecting money into the economy, it would only be a matter of time before QE3 came along. It appears the money printing madness will continue. In an effort to spur economic recovery, the U.S. government is rolling out an overhauled homeowner refinance program. This program is intended to assist those who are upside down in their home loan situation. However, loans that exceed the current limit of 125% of the property’s value won’t be able to participate until early next [...] |
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