You may have seen clip of Rick Santelli raging on CNBC about the stimulus bill and how it rewards people who have been irresponsible and doesn't offer anything for the majority of us folks that buy homes within our means and pay our mortgages on time.  His rants are annoying and overdone, but he voices an opinion that lots of people have right now.  Most of us recognize that this money needs to be spent and will benefit the majority of people in the long run but some are leery of paying to keep people in homes they can't really afford while they themselves may see only a small tax break incentive.  What about the rest of us?  How about some stimulus in the form of low interest rate incentives so we can refinance our mortgages and spend the savings?  We could use that stimulus money to subsidize very low fixed rate loans (under 4.5%) available to all of us for our primary residences. 

If the money for the housing sector went to subsidize lower interest rates on mortgages for the general public there would be savings to those who are struggling to keep their homes, for some of these folks a reduction in principal might be added if they owe more than their home is worth.  Many fewer of these homes would be foreclosed on.  People who aren't headed for foreclosure could refinance their mortgages and have extra money to spend.  Most people use refinance induced savings to spend on home repairs, autos and other things that put people to work.  Perhaps an extra bonus could be thrown in for those who buy an American made car.  And for the people who do not yet own a home a very low interest rate (fixed of course) will bring many into the home market.  They will be able to purchase homes for the first time and further boost the housing sector.  It's a win-win-win.   And for the nay sayers and stimulus haters they can simply turn their nose up and continue to complain.  Or they could embrace the plan, take advantage of it and shut the heck up.