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Top News <http://www.reuters.com> on 12/5/07
WASHINGTON (Reuters) - President George W. Bush will outline on Thursday a plan to freeze mortgage rates for five years for many U.S. homeowners facing sharp interest-rate resets, an industry source said on Wednesday.
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12/05/2007 11:19:00 AM
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1 comment:
This plan looks to freeze rates for sub-prime homeowners who can afford their current rate, are current, and would not be able to afford their payment if it adjusted. I am not sure what the effect of such government intervention will have in the long run. Also, I question the fairness of freezing rates for a certain demographic - I think some borrowers who don't fit into the mold of this freeze may be crying foul!
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