Treasury Department Considers Plan to Lower Mortgage Rates

Good news for those with good credit:

Treasury Department Considers Plan to Lower Mortgage Rates - FOXNews.com Transition Tracker

Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates and help stabilize the battered U.S. housing market.

Under one proposal, 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, Scott Talbott, chief lobbyist at the Financial Services Roundtable, said Wednesday.