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  • December 3, 2008 at 8:17 PM #14564
    cooperthedog
    Participant

    Reuters
    U.S. working on affordable mortgage plan: sources
    Wednesday December 3, 8:01 pm ET

    By John Poirier and Rachelle Younglai

    WASHINGTON (Reuters) – The Treasury Department is developing a plan to try to reduce mortgage rates on home loans to 4.5 percent on typical mortgages by expanding its purchases of mortgage backed securities, sources familiar with the plan said on Wednesday.

    The plan would see mortgage finance companies Fannie Mae (NYSE:FNM – News) and Freddie Mac (NYSE:FRE – News) expand their purchase of mortgage securities to help drive down borrowing costs, the sources said.

    The 4.5 percent target interest rate is roughly one percentage point lower than the average rate currently on a 30-year, fixed rate mortgage.

    ..snip..

    http://biz.yahoo.com/rb/081203/business_us_financial_mortgages_treasury.html

    December 3, 2008 at 9:37 PM #311168
    sdrealtor
    Participant

    I knew this was coming and unlike HLS I beleive it is coming for everyone not just purchases. The only way I see to stimulate the economy is to stabilize the housing market AND to get everyone spending freely again. What better way than to put everyone in the country with a mortgage into a 4.5% fixed rate backed by good ole Unkle Sam. The financial institutions are already all toast. Lets just bury them once and for all and give everyone a mulligan. The weak will still lose their homes, and they will be replaced by stronger folks that can actually afford their homes. Everyone else able and willing to pay their current mortgage will get a few hundred bucks a month to put Plasma’s in every room. It will be just like the Jetson’s.

    December 3, 2008 at 9:37 PM #311525
    sdrealtor
    Participant

    I knew this was coming and unlike HLS I beleive it is coming for everyone not just purchases. The only way I see to stimulate the economy is to stabilize the housing market AND to get everyone spending freely again. What better way than to put everyone in the country with a mortgage into a 4.5% fixed rate backed by good ole Unkle Sam. The financial institutions are already all toast. Lets just bury them once and for all and give everyone a mulligan. The weak will still lose their homes, and they will be replaced by stronger folks that can actually afford their homes. Everyone else able and willing to pay their current mortgage will get a few hundred bucks a month to put Plasma’s in every room. It will be just like the Jetson’s.

    December 3, 2008 at 9:37 PM #311551
    sdrealtor
    Participant

    I knew this was coming and unlike HLS I beleive it is coming for everyone not just purchases. The only way I see to stimulate the economy is to stabilize the housing market AND to get everyone spending freely again. What better way than to put everyone in the country with a mortgage into a 4.5% fixed rate backed by good ole Unkle Sam. The financial institutions are already all toast. Lets just bury them once and for all and give everyone a mulligan. The weak will still lose their homes, and they will be replaced by stronger folks that can actually afford their homes. Everyone else able and willing to pay their current mortgage will get a few hundred bucks a month to put Plasma’s in every room. It will be just like the Jetson’s.

    December 3, 2008 at 9:37 PM #311572
    sdrealtor
    Participant

    I knew this was coming and unlike HLS I beleive it is coming for everyone not just purchases. The only way I see to stimulate the economy is to stabilize the housing market AND to get everyone spending freely again. What better way than to put everyone in the country with a mortgage into a 4.5% fixed rate backed by good ole Unkle Sam. The financial institutions are already all toast. Lets just bury them once and for all and give everyone a mulligan. The weak will still lose their homes, and they will be replaced by stronger folks that can actually afford their homes. Everyone else able and willing to pay their current mortgage will get a few hundred bucks a month to put Plasma’s in every room. It will be just like the Jetson’s.

    December 3, 2008 at 9:37 PM #311639
    sdrealtor
    Participant

    I knew this was coming and unlike HLS I beleive it is coming for everyone not just purchases. The only way I see to stimulate the economy is to stabilize the housing market AND to get everyone spending freely again. What better way than to put everyone in the country with a mortgage into a 4.5% fixed rate backed by good ole Unkle Sam. The financial institutions are already all toast. Lets just bury them once and for all and give everyone a mulligan. The weak will still lose their homes, and they will be replaced by stronger folks that can actually afford their homes. Everyone else able and willing to pay their current mortgage will get a few hundred bucks a month to put Plasma’s in every room. It will be just like the Jetson’s.

    December 3, 2008 at 9:49 PM #311178
    SD Realtor
    Participant

    I cannot argue with that. 4.5% puts a hell of alot of hot air in the bubble again. Forget savings… spend baby spend! Rates at that level will absolutely bring your spring prediction closer to reality. Even with higher unemployment, the biggest misconception on this site is the denial of how much money there is that is floating out there on the sidelines right now.

    December 3, 2008 at 9:49 PM #311535
    SD Realtor
    Participant

    I cannot argue with that. 4.5% puts a hell of alot of hot air in the bubble again. Forget savings… spend baby spend! Rates at that level will absolutely bring your spring prediction closer to reality. Even with higher unemployment, the biggest misconception on this site is the denial of how much money there is that is floating out there on the sidelines right now.

    December 3, 2008 at 9:49 PM #311562
    SD Realtor
    Participant

    I cannot argue with that. 4.5% puts a hell of alot of hot air in the bubble again. Forget savings… spend baby spend! Rates at that level will absolutely bring your spring prediction closer to reality. Even with higher unemployment, the biggest misconception on this site is the denial of how much money there is that is floating out there on the sidelines right now.

    December 3, 2008 at 9:49 PM #311581
    SD Realtor
    Participant

    I cannot argue with that. 4.5% puts a hell of alot of hot air in the bubble again. Forget savings… spend baby spend! Rates at that level will absolutely bring your spring prediction closer to reality. Even with higher unemployment, the biggest misconception on this site is the denial of how much money there is that is floating out there on the sidelines right now.

    December 3, 2008 at 9:49 PM #311649
    SD Realtor
    Participant

    I cannot argue with that. 4.5% puts a hell of alot of hot air in the bubble again. Forget savings… spend baby spend! Rates at that level will absolutely bring your spring prediction closer to reality. Even with higher unemployment, the biggest misconception on this site is the denial of how much money there is that is floating out there on the sidelines right now.

    December 3, 2008 at 10:10 PM #311183
    sdrealtor
    Participant

    Meet George Jetson….

    December 3, 2008 at 10:10 PM #311540
    sdrealtor
    Participant

    Meet George Jetson….

    December 3, 2008 at 10:10 PM #311566
    sdrealtor
    Participant

    Meet George Jetson….

    December 3, 2008 at 10:10 PM #311586
    sdrealtor
    Participant

    Meet George Jetson….

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