President Obama Soon To Reveal Details For Lower Home Interest Rates

President Barack Obama, speaking on his weekly radio address on Saturday, promised to lower mortgage costs and get credit flowing as he readies a new road map for spending billions from the second installment of the financial rescue plan.

The White House is deciding how to structure the remaining half of the $700 billion that Congress approved last year to save financial institutions and lenders. An announcement was possible as early as this coming week on an approach that would use a range of tools to unfreeze credit, helping families and businesses.

During the final three months of 2008, the economy recorded its worst downhill slide in a quarter-century, stumbling backward at a 3.8% pace, the government reported Friday. It could get worse.