American's have been told that bank bailouts, the government's take over of Fannie Mae and Freddie Mac, raising the conforming loan limit from $417,000 to $729,750, lowering the prime rate and other "stimulus" is going to help the struggling home owner on Main Street. Hundreds of billions of dollars in relief has been given to the banking and mortgage industries, yet mortgage rates continue to go up.
The 30-year fixed-rate mortgage averaged 6.46% on a national basis for the week...
]]>