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Low Interest Rate Should Stimulate Housing Market

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4.5 percent interest rate suggested for new home loans

A home buyer, a builder, a realtor and a mortgage broker agree that setting mortgages at the lowest rate available in the past 25 years should stimulate sales of local real estate.

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  • Mine Friday, Dec 5 at 9:01 AM FLAG COMMENT Setting a lower interest rate for new home buyers only is still not going to stimulate the ecomony or sales; at this time many people are not interested in buying new homes because of fear of losing jobs, etc. It makes sense to lower the interest rates for the people that already have homes and need to refinance because they are haveing problems keeping up with their mortgage payments, so the forclosure mess can discontinue.

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