BREAKING NEWS

Obama seeks to broaden US mortgage refinancings

By REUTERS

SEPTEMBER 9, 2011 02:31

WASHINGTON - US President Barack Obama said on Thursday he is seeking to broaden US homeowners' access to mortgage refinancing in a plan to help the ailing housing market and put money back in the pockets of borrowers needing help locking into record low rates.

"We're going to work with Federal housing agencies to help more people refinance their mortgages at interest rates that are now near 4 percent," Obama said in his speech to Congress on Thursday in which he unveiled a $447 billion jobs package.

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