This is the latest proposal being murmured in the halls of the Senate. In fact Sen. McConnell of Kentucky is running this idea up the flag pole and Democrats as well as Republicans are considering it.
If interest rates are reduced to 4%, he feels more potential buyers would buy right now, even though real estate prices are still declining. If that happens, prices might start to stabilize and the housing market could start its’ recovery.
Another benefit could be the refinancing of homes by people who are current with their mortgage payments but would now have a lower monthly amount and could conceivably be able to spend this saving on other things and that, in turn, could revive other businesses that are failing.
It is still only an idea …but what do you think? Would this be something you would support? Would it help you?
Let me hear your opinion. Write to me.