- The Washington Times - Wednesday, August 7, 2013

President Obama lamented Wednesday that he hasn’t been able to take advantage of refinancing his home in Chicago because of his current job in the “rental” White House.

During an online discussion on housing hosted by the real estate service company Zillow, Mr. Obama expressed the wish that he could save money on his mortgage loan through relatively low interest rates.

“Our home back in Chicago — not the White House, that’s a rental — I would probably benefit from refinancing right now,” Mr. Obama said. “I would save some money.”

The president didn’t specify the interest rate on his family’s home loan in the Hyde Park neighborhood of Chicago. But he said even though interest rates have risen about one percentage point in recent months, refinancing would still be a good deal for him.

“When you’re president, you have to be a little careful about these transactions, so we haven’t refinanced,” Mr. Obama said. “But there’s no doubt that somebody like Michelle and I, who bought our house several years ago, that if we went out to the market right now, we’d end up saving some money.”



Click to Read More

Click to Hide