NEW MORTGAGE RATES SPUR BUYERS TO COME OUT FROM HIDING
http://www.msnbc.msn.com/id/28032242
After reading this article I realized that with foreclosures at their highest rate in 15 years and an overall market adjustment from 10 to 25 percent we may we have possibly hit a bottom or come close to one. With the The Treasury Department considering a plan to revitalize the U.S. home market that would push down interest rates for loans to purchase a home, according to people familiar with the matter.
The plan, which is in the development stage, would temporarily use the clout of mortgage giants Fannie Mae and Freddie Mac to encourage banks to lend at rates as low as 4.5%, more than a full point lower than prevailing rates for standard 30-year fixed-rate mortgages.
U. S. Treasury about to reduce rates to 4.5% ????????those of you who are trying to catch the falling knife you better put some gloves on
