Bay Area awaits lower purchase and refinance interest rates.

President Barack Obama signaled in his Saturday radio address that lower mortgage rates should be coming.  The new President said that his administration would be “reviving our financial system that gets credit flowing to businesses and families.

We’ll help lower mortgage costs and extend loans to small businesses so they can create jobs. We’ll ensure that CEOs are not draining funds that should be advancing our recovery.”  And in good news for real estate investors, Mitch McConnell, the Republican Senate Minority leader, has put forth a plan to bring mortgage rates to 4%.

So a compromise to bring lower rates looks to be in the works!  Let’s just hope they figure it out soon, so fence sitters will jump off the fence!

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