Higher Mortgage Interest Rates Hurt Obama Re-Finance Plan

Noticed by Diana Olick of CNBC.ocm, the bounce in 30 year mortgage rates from around 4% to 5.5% eliminates any reason for numerous nomeowners to re-finance, because they already have 5.5% or lower rates.

As noted, this rate increase virtually eliminates  the Obama mortgage re-finance plan as a choice.

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