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Obama: Timing right for millions to refinance

WASHINGTON – President Barack Obama says millions of Americans can save money by refinancing their homes and taking advantage of record low rates on fixed mortgages.

Speaking at the White House, Obama on Thursday emphasized that that average rates on 30-year fixed-rate mortgages have dropped to 4.78 percent. That is the lowest rate on record.

Said the president: “People can really take advantage of this.”

Obama touted an increase in refinancing nationwide as a sign that federal programs to help homeowners are working.

But he warned people to watch out for scam artists. He said if people offering to help people stay in their homes ask for money upfront then “it’s probably a scam.”

Citizen Online Archive, 2006-2009

This archive contains all the stories that appeared on the Tucson Citizen's website from mid-2006 to June 1, 2009.

In 2010, a power surge fried a server that contained all of videos linked to dozens of stories in this archive. Also, a server that contained all of the databases for dozens of stories was accidentally erased, so all of those links are broken as well. However, all of the text and photos that accompanied some stories have been preserved.

For all of the stories that were archived by the Tucson Citizen newspaper's library in a digital archive between 1993 and 2009, go to Morgue Part 2

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