President Barack Obama on Thursday declared “America’s resurgence is real” during the second stop on his road trip to highlight the country’s economic turnaround since he took office.
Obama focused his stop in Phoenix, Ariz., on improvements in the housing market, announcing new measures aimed at making it easier for Americans to own a home and “keep the momentum” of an improving economy.
“Buying a home has always been about more than owning a roof and four walls. It’s about investing in savings, and building and family, and planting roots in a community,” he said.
Obama unveiled a 0.5 percent cut in annual mortgage insurance premiums on Federal Housing Administration loans. The administration predicts the lower rates will save typical home buyers $900 annually.
On Wednesday the president visited Michigan to highlight the improved automobile industry, and Friday he will travel to Tennessee to promote education and manufacturing. The stops are meant to preview topics of his upcoming State of the Union address.
-- Andrew Rafferty