Government involvement in the mortgage market is one of the causes of the present economic mess, and I do not think this proposal is a good idea. On a personal level, I am in the process of refinancing a 5.5%
15-year fixed rate mortgage to a 4.625% rate with 1 point. Now I wonder whether to pull the application and see whether the proposal becomes part of the boondoggle (ahem, stimulus plan).- posted
15 years ago