There might be a 25 or 50 basis cut until the end of the year, easy liquidity and the conforming loans with downpayments and verfied income will be available as ever and be fairly priced at about 6%. They may throw some new wrinkles on the FHA loans to help people and the programs will look new and shiny but they won’t help anyone in California. FHA limit is 363k, who do you know is screwed because of their 363k loan in San Diego? This way they can help the poor and the middle class who just need a slightly better loan but the majority of the Californian who have leveraged themselves to the tune of a half million plus, they can’t be helped and helping them would shock most of the populous in the middle of the country anyway. I read that their ideas would help 80k homeowners total, thats about 1 in 25 that are in trouble and probably 1 in 500 that are in California.
