This pro-real estate article appeared in today's Washington Post. Read it and let your representatives know how important this is.
jw
Links to this article
By David Cho, Zachary A. Goldfarb and Dina ElBoghdadyWashington Post Staff Writers Thursday, December 4, 2008; Page A01
The Treasury Department is strongly considering a plan to intervene directly in the mortgage industry to dramatically force down rates and stimulate the moribund housing market, according to sources familiar with the proposal.
Under the initiative, the Treasury would offer to buy securities that finance newly issued loans for home purchases, according to the sources. But to participate in the government's program, mortgage lenders would have to set exceptionally low interest rates, for instance, no more than 4.5 percent for traditional, 30-year fixed-rate loans.