Mortgage Rates Are Falling
The US Treasury purchased $600 Billion in mortgage backed securities and now interest rates are falling.
The Treasury Department is also considering a plan to lower mortgage rates on loans for home purchases to 4.5%. The government has also been urged to consider preventing foreclosures by including buying risky mortgages and refinancing them under more favorable terms to homeowners.
Many feel that housing led markets into this mess. So even though the crisis has now broadened, housing is still likely to lead the way out.
No one knows an exact cure but if you're a home buyer you can certainly bennefit from lower interest rates.