Mortgages at 4.5% ? - Maybe!

Will it be possible to get a mortgage for your Eastham home at rates as low as 4.5% ? Maybe!

The Treasury Department is contemplating a proposal that would cut mortgage rates for new loans for homes, according to the Wall Street Journal. The plan would employ Fannie Mae & Fannie Mae to offer mortgages with rates as low as 4.5%, roughly 1 percentage point lower than current rates. The measure is under consideration as part of the Treasury Department's continued effort to limit foreclosures, which has been at the core of the financial crisis. The plan would seek to revitalize the financial market without bailing out homeowners and lenders. Go to MarketWatch.com for the whole story.