Bartlett & Jackson NH Real Estate Market

REALTORS push the Treasury department to drastically lower mortgage interest rates.

"What would it take to get you to buy a home in this market?"

The National Association of REALTORS have pushed the Treasury department to consider directly offering mortgages as low as 4.5% for a NEW 30 year fixed rate term. The mortgage markets have already dropped half a percent on the rumor.

But would a 4.5% mortgage make you go out and risk buying a new home or vacation property? First, you would need to ask, "Are the current 5.5% mortgages too high?" Second, if you can't qualify for a mortgage today due to bad credit or lack of a down payment, how would that change?

Over the last 5 years we have sold homes to everyone who wanted one. That is the problem. There are not a lot of people left in the "First Time Home Buyer" line. What would make a huge impact on the real estate market across the country is allowing people to re-finance at these discounted rates.

By using these 4.5% mortgages for re-financing, we lower monthly payments, eliminate the problem of adjustable rate mortgages, reduce foreclosures and increase cash available for stimulating all sectors of the economy. Most important we are offering a life line to millions of hardworking homeowners instead of a bunch of incompetent executives stock options.

Backed by issuing Treasury bonds at 3% and sold through Fannie May and Freddie Mac, these new loans would be profit generating in the long-term. The only reason the Banking industry doesn't want these rates to be used to re-finance current mortgages, is that they are greedy and want to keep those higher rate mortgages. They have no incentive to help the average homeowner as long as we keep throwing billions of dollars at them.