Congress lets have a 6 month rate reduction for FHA to 4.5%

Now more than ever we need a mandated rate reduction for FHA financing.  This would be a tremendous stimulouus as follows:

1.  Borrowers in trouble could refinance at a stated rate rather than negotiate individually.

2.  Sidelined new homeowners would have an incentive to get in the game.

3.  Lower rates mean greater buying power.  This could stabilize the market more quickly.