Good Morning ,

I thought youmight like some good news!

WASHINGTON -- The Treasury Department is considering a plan to revitalize the U.S. housing market by reducing mortgage rates for new home loans, according to people familiar with the matter.

Henry Paulson

The plan, which is in the development stages, would use mortgage giants Fannie Mae and Freddie Mac to bring loan rates down as low as 4.5%, a full percentage point lower than the prevailing rates for 30-year fixed mortgages.

Government officials are under pressure to stem foreclosures, which underpin much of the current financial crisis. Treasury has struggled for months to come up with a plan that would ease the market without appearing to bail out homeowners and lenders.

Under the plan, Treasury would buy securities underpinning loans guaranteed by the two mortgage giants, which are temporarily under the control of the government, as well as those guaranteed by the Federal Housing Administration. Fannie and Freddie guarantee a large proportion of all new home loans made in the U.S

Have a Great Week! Rates are excellent right now for refinancing ---- 30 yr Fixed @ 5.5% with 0 points. Have your family and friends call me to lower their payments.

Sincerely,

      Jeff

W. Jeff  Wunderlich                 

Loan Officer                           First Federal Savings Bank

Office: 800 443-8780 ext. 1224           801 W. Jefferson Street

Fax: 815 730-1710                                Shorewood, IL 60404

Cell: 815 955-8422