Interest rates over three percent are a unfair burden to owner occupied homes.No other qualifactions.
Banks and investors are making substanially more than they should on mortgages that were produced prior to the down turn.
Example: owner occupied home with a $420,000 mortgage
@ 6.5% would realize $1000.00 apx. per month savings.
Reduced interest on a home mortgage would also increase your state and federal tax liabilty.
Increasing revenues for states and federal goverment..
Taxpayers net gain would outstrip this increase .
NOTE: not all states have income tax
WIN-WIN