Mortgage Rate Freeze
President Bush has unveiled a plan to freeze interest rates for hundreds of thousands of homeowners whose mortgages are scheduled to rise in the coming months. President Bush stated, “There is no perfect solution. The homeowners deserve our help. The steps I've outlined today are a sensible response to a serious challenge.'' After his speech was delivered Thursday afternoon, Bush was initially criticized for violating free market principles. However, this private sector plan would not represent the imposition of a government solution for the mortgage crisis. “We should not bail out lenders, real estate speculators or those who made the…