The rate on a 30-year fixed-rate mortgage went up, but not by much. However, it was enough to get the attention of everyone in the housing market.
Is the Obama administration failing the housing market? Maybe.
If you have a Fannie Mae or Freddie Mac loan and have had no luck refinancing because you owe more than your home is worth, HARP, the Home Affordable Refinance Program may be able to help.
Homeowners and those looking to buy a house are calling their mortgage companies trying to lock in rates, fearful they may start heading upward.
The government’s plan to overhaul its role in the mortgage business might mean the end of 30-year fixed mortgages. That’s just one possibility as it tries to distance itself from Fannie Mae and Freddie Mac.