Rates low, but banks skittish
In a time ripe for mortgage refinances, loans are scarce
Posted: December 13, 2009 at 4:04 a.m.
Mortgage rates in the United States have dropped to their lowest levels since the 1940s, thanks to a trillion-dollar intervention by the federal government. Yet the banks that once handed out home loans freely are imposing such stringent requirements that many homeowners who might want to refinance are effectively locked out.
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Front Section, Pages 1 on 12/13/2009
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