If you were among the many watching the president’s State of the Union address last evening, chances are you didn’t even realize President Obama hinted at a new refinance plan. In fact, the word “refinance” didn’t even appear in the president’s speech. The term “refinancing” was only mentioned once.

“And that’s why I’m sending this Congress a plan that gives every responsible homeowner the chance to save about $3,000 a year on their mortgage, by refinancing at historically low rates,” said the president.  “No more red tape. No more runaround from the banks. A small fee on the largest financial institutions will ensure that it won’t add to the deficit and will give those banks that were rescued by taxpayers a chance to repay a deficit of trust.” Read the rest of this entry »

Good morning everyone. Since there are several important developments currently underway that are likely to impact you directly, I thought I would do things a little different this morning. Instead of writing separate posts on each development, we’re going to delve a little into each. Each of the following are likely to impact not only the housing markets but the overall economy as well.

Fed Leaving the Mortgage Market?

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