“Mortgage rates increased last week despite news that the economy will be in an extended recession and a jobs report that was weaker than expected. Stocks surged Monday in a positive response to progress on a potential rescue of the Big Three auto makers, as well as news of President-elect Obama’s stimulus plans. Rates normally rise when the stock market rises, but are relatively unchanged since last week. We are receiving many calls from consumers asking about the Treasury plan to reduce mortgage rates to 4.5%, but so far no information has emerged about what this means, who it will apply to, and other critical details.”