A plan under review by the Treasury department could help push buyers off the fence and reduce inventory in the Phoenix market by promoting 4.5% fixed rates. This rate would only apply to purchases and could not be used to refinance.
The plan would allow the government to buy the securities backing these newly issued loans, but in order to sell them to the government, the banks would have to offer the 4.5% fixed rate.
As reported in the Republic this morning, this is just one of several plans that would help stimulate sales in a struggling market and reduce the flow of foreclosures.
To read the complete story click here.
Kurt Sabel
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment