5-years mortgage rate freeze incentives.

All eyes on the subprime rate freeze plan tonight at 1:40 p.m.(EST) in Washington to be unveiled by President George W. Bush and Paulson will speak at a press conference later today.

The main objectives is to stop a wave of foreclosures undoing the six-year expansion.

Treasury Secretary Henry Paulson and regulators forged the agreement with lenders that will fix interest rates on some loans for five years

The deal is focused on borrowers who will fall behind once initially low rates reset to higher levels through July 2010.

There are too many foreclosures hitting the street and the value of the neighbouhood are depreciating.

The freeze will apply to mortgages issued between January 2005 and July 2007 that are scheduled to reset between January 2008 and July 2010.

To be eligible, borrowers must not be more than 60 days behind in their payments, have less than 3 percent equity in their property and be unable to afford higher interest rates once starter rates increase.

So let's hope these loans remodifications can help the housing sector bail out of the doldrums.

Tracking the Dow,Wednesday 5/12/07

A powerful opening candlestick just one-minute on the back of an economic report receiving the most attention was the ADP employment estimate. The reading showed that November private payrolls increased by a very strong 189,000, more than triple the consensus expectation.The rally was nearly derailed midday,though, after Moody's came out and rang some alarm bells regarding bond insurers' capital positions and the potential for MBIA's (MBI 27.42, -5.21) triple-A credit rating to be cut. Stocks traded in a choppy manner following the report.The final bell candlestick was a weak spinning doji on the back of 2hangmans.So the follow through sessions might start with a cautious note.

An early Christmas Rally celebrating ahead of good news-the Fed's rates cut & the President unveiling plans for the mortgage debacle.So the first week of the month is on a high-note site.

So do you think on "Quadraple Witching Day" will it be on the Low.Maybe the big boys have plans.SELL HIGH,BUY LOW.I've noticed that Moody's Rating Services downgrading reports have been ignored by the market.Will they drop another bombshell?