Treasury's Plan for Mortgage Rates Could Be Costly- TIME

EXCELLENT article, with several links to other valuable information. As I've been telling people since this 4.5% talk started yesterday; we want rates to go down for EVERYONE, not only specific people that individual banks deem worthy; and the Fed will only purchase securities backing loans with rates 1% under what the average rate is (now 5.5%). And only for purchases; not for refinances, and only for qualifying borrowers. What I see that doing is #1. not helping many of the average purchasers, #2, obviously doing nothing for the tons of people needing to refi, especially those with adjustable rates, and #3, if the deal is 1% under the average market rate, then it could actually result in "regular" rates staying high. But check out the article for a more expert opinion. I'd love rates to go down another percent; but it needs to be done in a way that everyone can benefit.