Mortgage Rates Up, Refinancing Applications Down

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Give the banks money out of the stimulus fund after they make loans to consumers. Dollar for Dollar.Require the banks to lower interest rates on home loans.Allow home owners to refinance at a rate they can afford.Scrap Nafta!.Buy American help revive our country after all it's our country!Term limits should be imposed on these worthless career politicians.

roger of TN @ Feb 10, 2009 09:58:55 AM

Mortgage Rates

King Obama and his court just don't get it. And all the real estate columnists don't get it.

Of course this is a good time to finance at 5% or so if you are looking for a new home.

Obviously if you are in a position to buy a home right now, you have a good job, a good sized deposit and with lower overall housing prices you should be more concerned about getting into your first home and not trying to chase 4% rates. Be happy with 5-1/4 and just get it done. But what about us poor fools who already have a current 6-7% 30 year and are trying to refinance our property at a lower rate so we can afford to keep it? There is nothing greedy about trying to lower your payments 300-400 a mounth so you can keep your house even if one has to work 2 jobs to do it. The problem is ever since the messiah became

President the rate has been going up. That was supposedly the whole point of this exercise in helping people keep their homes by also providing a lower rate . I fail to see how saving

1% on my rate is going to help or am I just being greedy?

Dave Schnell of CA @ Feb 07, 2009 20:53:47 PM

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