30-Year AND 15-Year FRM At Lowest Level Since July 2005 - McLean, VA – Freddie Mac (NYSE:FRE) yesterday released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 5.69 percent with an average 0.5 point for the week ending January 17, 2008, down from last week when it averaged 5.87 percent as well. Last year at this time, the 30-year FRM averaged 6.23 percent.

Ending Homelessness: $800,000 Freddie Mac Foundation Investment To Help Montgomery County Homeless Children And Families.

Rates on 30-year mortgages dropped for a third straight week to the lowest level since the summer of 2005 as worries intensified about the current economic slowdown.

A committee of the Florida Taxation and Budget Reform Commission on Thursday gave first approval to a plan (CP 0002) that would mandate taxation of goods and services to buy down school property taxes, despite strong opposition from business groups concerned the measure would jeopardize Florida’s ability to compete for new business and industry.

President Bush says the country is in the midst of a "challenging period" and needs swift and temporary actions to boost the economy.

US President George W. Bush will present a package of emergency measures later today intended to prevent the US economy from sliding into recession. Reportedly there will be tax rebate of up to $600 dollars presented to push the U.S. Economic growth, create more jobs and increase consumer spending.

In his State of The State speech New York City Mayor Michael Bloomberg said the administration will continue tax relief with a $400 property tax rebate to all homeowners. The media is reporting that the President Bush is also favoring Tax Rebate as a way to give the U.S. Economy the much needed stimulus.

The Board of Directors of the Federal Housing Finance Board (Finance Board) passed a resolution permitting the Federal Home Loan Bank of San Francisco to develop a pilot program to use a portion of its Affordable Housing Program (AHP) homeownership set-aside allocation to assist low- and moderate-income households that, as a result of a recent or scheduled increase in monthly mortgage payments, will no longer be able to afford their mortgages.

The chairman of the U.S. Federal Reserve Ben Bernanke is now testifying in front of House Budget Committee, saying that the U.S. Economy quickly needs help in various ways: especially in the way of a economic stimulus package. "To be useful, a fiscal stimulus package should be implemented quickly," said Bernanke.

Most people realise that you can't borrow your way out of a bad debt problem however ironically this is exactly what people with debt problems automatically seem to want to do.

Although a lot of companies and websites out there claim to give you a copy of your credit reports for free, over 95% of them will make you to sign up to a credit monitoring service which will eventually cost you money before you can see your "free" credit report.

Many homeowners are taking advantage of declining mortgage rates to refinance out of their adjustable rate mortgages. Even homeowners with a fixed rate mortgage are taking the opportunity to shorten their mortgage terms and lower their mortgage rates and payments as it has been years since mortgage rates have been this low.