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Morning Mortgage Meltdown: Time to Refinance!

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Rates on 30-year fixed mortgages are down in the doldrums. Great, right? Except it's of little help to homeowners already underwater with debt and delinquent payments -- or, for that matter, anyone buying in the Bay Area, where homes generally cost more than the $417,000 limit, pushing them into jumbo loan territory. "Certainly, it's a historic opportunity for those people that can play in the marketplace." And for those who can't? Better get down to the soup kitchen before they run out. [SF Gate]