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Northern Colorado Real Estate Info
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Banks, U.S. near deal on subprime mortgages, an article from MSNBC.com, reports that the White House administration is working with the industry on a plan to extend lower, introductory interest rates on home loans before they reset at higher levels. Treasury Department spokeswoman Jennifer Zuccarelli said, "We've all agreed that there should be some sort of standardized approach to reaching more homeowners faster." Though no formal agreement was announced, a statement on this issue could be revealed in the next week or two. In a speech Thursday evening, Fed Chairman Ben Bernanke suggested that another general rate cut might be needed to bolster the economy.
http://www.msnbc.msn.com/id/22039594/
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