The Real Deal New York

Mortgage rates and rents being lowered

December 04, 2008 05:29PM

The Treasury Department is supporting a plan to get mortgage companies
to offer rates as low as 4.5 percent in order to encourage home buying.
Meanwhile, for people still renting, some landlords are lowering
monthly rents. One renter in upper Manhattan asked for a $40 reduction in monthly rent
when larger apartments were renting for the same price the renter was
paying.

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