U.S. mortgage plan will freeze certain subprime interest rates for five years (The Canadian Press via Yahoo! Canada News)

Story date: 2007-12-05 01:51:00
Added on: 2007-12-05 15:32:08

WASHINGTON - The Bush administration has hammered out an agreement with industry to freeze interest rates for certain subprime mortgages for five years in an effort to combat a soaring tide of foreclosures, U.S. congressional aides said Wednesday.


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