I thought I'd start another post for anyone who wishes to discuss the bill in the Senate, as it relates to housing, as well as the Treasury plan. So far, the former still includes $15,000 for homebuyers, but the 4% mortgages were voted down. News about the latter:
US Treasury to prop up housing under revamped bank bailout.
"Summers declined to get into details of the new TARP relief, but said a large chunk of it would go to housing.But we won't know the details until "the plan" is released tomorrow.
'The president's made clear that he's very committed to (preventing) foreclosures. I expect that it will be 50 billion dollars or more that will be directed at providing support for the housing sector of our economy,' he said."
Update: Pimco's Bill Gross says mortgage rates likely headed to 4.5%.