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December 06, 2007

Subprime mortgage rate freeze

WASHINGTON (AP) -- Hundreds of thousands of strapped homeowners could get some relief from a plan negotiated by the Bush administration to freeze interest rates on subprime mortgages that are scheduled to rise in the coming months.

"There is no perfect solution," President Bush said Thursday as he announced an agreement hammered out with the mortgage industry. "The homeowners deserve our help. The steps I've outlined today are a sensible response to a serious challenge."

Read the full article here.

Posted by Holden Oliver (Kitzb├╝hel Desk) at December 6, 2007 11:24 AM


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