Stimulus: Senate's housing hopes, an article from CNNMoney.com, reports that lower interest rates, a foreclosure moratorium and more attractive tax credits to spur home buying are all components being considered for the recovery bill. Senate Republicans are expected to introduce a provision that would "encourage lenders to offer a 30-year fixed rate mortgage at 4% for a limited period of time." A 90-day moratorium on foreclosures has been proposed by Senate Banking Committee Chairman Christopher Dodd, D-Conn. Senate Budget Committee Chairman Kent Conrad, D-N-D would like to see the $7,500 first-time homebuyer credit expanded to include all purchases of primary residences. A comprehensive plan to fix the financial system is expected to be released by President Obama within the next two weeks.
http://money.cnn.com/2009/02/01/news/economy/Senate_stimulus_housing/index.htm?postversion=2009020209
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