—Help more Americans refinance their mortgages at lower interest rates. With mortgage rates at historically low levels of about 3.5 percent, economists have urged the government to help people to take advantage by refinancing or qualifying for a new mortgage. Obama has previously taken steps to help those with mortgage loans insured by government-sponsored mortgage giants Fannie Mae and Freddie Mac. His newest proposal would apply to those without Fannie or Freddie-backed mortgages. Mark Zandi, chief economist at Moody’s Analytics, said the additional steps would help, but are ‘‘not a game changer for the housing market or economy.’’
AP Economics Writer Christopher S. Rugaber contributed to this report.