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Home Loans of 4.5% – Is this Possible in San Diego County?

The Treasury department has stated it is looking for additional ways to help the struggling housing industry and believes lower rates are needed.

How rates would be set, who would qualify, and can funds be used for purchases and refinances are just some of the questions being asked.

“The goal is to drive mortgage rates so low that home prices not only stop falling but begin to rebound,” said Greg Mcbride, senior chief analyst at Bankrate.com

If the plan did come into effect it would be effective in helping anyone looking to buy or sell a home or refinance out of an expensive mortgage,but it may not help those whose credit is so damaged that banks don’t want to lend to them.

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