February 19, 2009
In Mesa, Arizona, Wednesday, the President presented the Homeowner Affordability and Stability plan, a multi-pronged effort to support the housing market. The story made the front page of nearly every newspaper in the country . The president’s plan is sweeping: Incent mortgage servicers to work with at-risk homeowners before delinquency starts Let homeowners with good credit but little equity refinance to today’s low rates Fund Fannie Mae and Freddie Mac to support mortgage markets It’s a broad plan with many positive angles, but for now, we can’t forget that it’s just a plan .
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February 17, 2009
In anticipation of a strong, government-led stimulus plan, mortgage markets improved with fervor early last week only to fizzle with equal speed as efforts fell short of expectations. Neither the Fed, nor the Treasury nor Congress gave markets what they wanted. Between Monday and Friday, mortgage markets were essentially unchanged, ending a 4-week slide.
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