Obama’s Disclosure Shows Mortgage Refinance Not High on Agenda

While President Barack Obama has cited the financial relief available to homeowners by refinancing at low-interest rates, he and his wife weren’t among Americans who sought out a lower-cost loan last year.

The Obamas still held at the end of 2011 a 30-year mortgage on their Chicago residence of between $500,001 and $1 million at a rate of 5.625 percent, according to financial disclosure forms released yesterday by the White House. The loan was obtained in 2005.