FreedomWide- DEBT CONSOLIDATION, LOWER MONTHLY PAYMENTS, CONSOLIDATE DEBT

WASHINGTON | Anna Galloway keeps a watchful eye on interest rates and stays in touch with her mortgage broker because she is eager to refinance the “jumbo” loan on her Charles County, Md., home.

“But I haven’t even bothered to try to refinance yet because I know the jumbo rates are too high right now,” said Galloway, 37, a legal secretary. “I’m just waiting and watching for any sign that the interest rates will drop.”

That drop may be coming soon.

The economic stimulus package that President Bush signed last week includes provisions aimed at pulling those rates down and reinvigorating a part of the mortgage market still stunned by problems with subprime borrowers that surfaced last year.

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Tags: , jombo loans, mortgages, refinance

This entry was posted on Monday, February 25th, 2008 at 3:24 am and is filed under Mortgage Interest Rates, Mortgage News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.