MORTGAGE RATES COULD FALL TO 4%
"Government efforts to provide easier credit to consumers and jumpstart flagging home sales could push mortgage rates "well below 4 percent," a federal regulator said Wednesday.James Lockhart, whose agency oversees government-controlled mortgage giants Fannie Mae and Freddie Mac, made the comments at a meeting of Women in Housing & Finance, an industry group. He did not say how long it would take to achieve such a drop and has declined to provide a firm target for mortgage rates.Treasury Department officials have been considering a program to lower mortgage rates, which would not apply to refinanced loans."
In my opinion, they need to make refinancing applicable to all home owners in order to stop foreclosures and shortsales!!! People are becoming jobless and unable to make their usual and customary 30 yr fixed loans as well...