Mortgage Calculator LoanUse a mortgage calculator on a 4.5% rate
Written by on December 6th, 2008The idea is under consideration as part of the Treasury Department’s continued effort to limit foreclosures, which has been at the core of the financial crisis. The plan would seek to revitalize the financial market without bailing out homeowners and lenders, the Journal reported Wednesday.
The reports circulating suggest that the Federal government is going to subsidize morgage companies so the average morgage rate is only 4.5%. Currently that is nearly 1 full percenage point lower. 4.5% would also be near the lowest ever available to Americans!
You should prepare now if you are in a position to purchase a new home. Once enacted the real estate activity is going to spike and it will be uncertain how long these subsidized loans will be available. One step is to check out a mortgage calculator to see how much house you could afford if the rates fall to 4.5%.
