From the 13 Weather Team... The National Weather Service has issued... a Winter Storm Watch for the counties of Jewell and Mitchell until 9:00 PM Thursday, and a Winter Storm Watch
More Details

Treasury Considering New Mortgage Rate Plan

By: AP
By: AP

WASHINGTON - The Treasury Department is considering a
program to encourage banks to make mortgage loans at low rates to
help revive the battered housing market.
That's according to Neal Kashkari, who heads the government's $700 billion financial rescue effort.
Under the proposal being pushed by the financial industry, Treasury would seek to lower the rate on a 30-year mortgage to 4.5 percent by purchasing mortgage-backed securities from Fannie Mae and Freddie Mac. It's unclear exactly how much the plan would cost.
Kashkari told a Senate subcommittee today it's one of the options the administration has under review.
He says Treasury is striving to use the ``right tools for the right job'' in an effort to help as many homeowners as possible.

631 SW Commerce Pl. Topeka, Kansas 66615 phone: 785-272-6397 fax: 785-272-1363 email:
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 35582124 -
Gray Television, Inc.