Obama pledges 'step up in refinancing' 

The government "will step up refinancing so that homeowners can move into more affordable mortgages," President Barack Obama said in his first State of the Union address Wednesday evening.

"We're working to lift the value of a family's single largest investment: their home. The steps we took last year to shore up the housing market have allowed millions of Americans to take out new loans and save an average of $1,500 on mortgage payments."

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