Homeowners and prospective homeowners of Eustis, Mount Dora, and Tavares, Florida could see, as early as next week, rates on 30 Year Fixed Rate mortgages in the 4% range.  This move could come about as a result of a push by Republican lawmakers to include this provision in President Obama’s $900 Billion stimulus package.

Lowering Mortgage Rates

The strategy has two main objectives to help stimulate the economy.  The first being to stop the falling housing market.  By dropping rates below already historic low rates, prospective homeowners may jump on them to buy matching historic low housing prices.  The second would stimulate consumer spending. Existing homeowners will be able to refinance (provided they are not already upside-down), thus lowering their monthly obligations.

The provision is aimed towards Fannie Mae and Freddie Mac, not FHA.   Hope for Homeowners... click here to read more.

 
This post has been included in Florida Real Estate News Lake County, FL Real Estate News
Post is included in group: All Things Florida
Post is included in group: Mortgages

1 Comments on 4% Mortgage Rates for Lake County, Florida

FEB
06
2009

I'm a CT Democrat and I think this is a great idea - 4% fixed for new and refinancing - great and gets $$ to the banks that took US taxpayer bailout so they can pay back quicker - families and neighborhoods destruction halted - and $$ saved with refinancing at 4% means homeowners can spend money for cars, consumer goods or home repairs! I called my US Senators and wrote my House Rep. Everyone should do the same with their reps too!

 
Linda
11:27am • #1


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Jason Price

Eustis, FL

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Mortgage Financial Group, Inc

Address: 725 E. Alfred Street, Tavares, FL, 32778

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