For Americans feeling secure enough to contemplate buying a home, Uncle Sam is considering a plan to drop the interest rate on 30-year mortgages by a full point. Excited? Mortgage brokers certainly are.
With loans available at 4.5 percent, "it would be a dream come true," Silicon Valley mortgage broker Cathy Warshawsky tells the San Jose Mercury News.
Details in the linkfest, after the jump, with more to come on the podcast later today.
From Bloomberg: European Central Bank chief says Euro-region economy will shrink/ Unemployment claims at 26-year high/ GM, Chrysler may accept bankruptcy for bailout.
From the San Jose Mercury News: U.S. proposal could drop mortgage rates to 4.5 percent.
From Calculated Risk: An analysis of house prices and interest rates.
From CNN Money: AT&T, Dupont to slash jobs.
From the San Francisco Chronicle: Adobe laying off 600 employees.
From the Hartford Courant: Pratt & Whitney laying off 350/ Connecticut public colleges facing double trouble.
From the New York Times: Treasury Secretary Paulson, the man without a plan.
categories: Morning Report
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