USDA lowers cost to refinance rural housing loans

USDA Rural Housing Service Administrator Tony Hernandez announced a series of changes last month that will make it faster and cheaper for homeowners to refinance USDA mortgages.

"These changes reaffirm the Obama Administration's commitment to middle-class Americans, and I am pleased that we continue to provide affordable housing to support thriving economies in rural communities," Hernandez said. "Helping homeowners refinance their homes to reduce their monthly payments and take advantage of low interest rates will bring increased capital to rural residents and the communities where they live...