U.S. Governors Disagree About Obama Housing Plan Benefits

President Barack Obama met Monday at the White House with the nation's state governors to garner support for his $787 billion economic stimulus plan, promising that $15 billion of those funds would be released Wednesday to bolster state efforts to provide Medicaid coverage for the poor. Some governors are excitedly supportive of the entire Obama plan and the allocation of more money. "We are very anxious to see the loan modification program that the president is proposing as we think it will Read more [...]

Mortgage Rates Continue Dive into Record Low Territory

Average interest rates on U.S. mortgage loans fell for the ninth consecutive week, according to mortgage giant Freddie Mac Wednesday, falling to a new all-time low, making mortgage loans more palatable to borrowers around the country. The rate on a 30-year fixed rate loan dropped to 5.10 percent, excluding fees, during the week ended December 31, 2008, down from 5.14 percent. One year ago, the average rate was almost an entire point higher at 6.07 percent. "Interest rates for 30-year fixed-rate Read more [...]