Saturday, January 26, 2008

Bush's stimulus plan actually making us happy?!

This is maybe the first thing EVER from Bush that has actually made us HAPPY. With the stimulus plan, they intend to increase the jumbo loan limit to $625,000 for 12 months. You see, anything under the jumbo loan limit gets a much lower interest rate than above that limit. Before it was around 417K which would have caused us to get a percent or more interest rate higher because our loan would have been around 575K. Here's a quote from the news:

"For instance, the interest rate difference between loans that fall
within the cap limit and jumbo loans was more than 1 percent on Thursday
-- 6.39 percent compared with 5.30 percent, according to
On a $500,000 mortgage, the difference is about $350 a month."

Below is the full story:

1 comment:

Jennifer said...

That's good! I'm just as excited about the proposed $1200 that may be coming our way. Installed floors, here we come!