WASHINGTON – President Barack Obama says millions of Americans can save money by refinancing their homes and taking advantage of record low rates on fixed mortgages.

Speaking at the White House, Obama on Thursday emphasized that that average rates on 30-year fixed-rate mortgages have dropped to 4.78 percent. That is the lowest rate on record.

Said the president: “People can really take advantage of this.”

Obama touted an increase in refinancing nationwide as a sign that federal programs to help homeowners are working.

But he warned people to watch out for scam artists. He said if people offering to help people stay in their homes ask for money upfront then “it’s probably a scam.”

WASHINGTON  – President Barack Obama has named a former Freddie Mac executive to head the federal housing commission.

The White House on Monday named David Stevens as assistant secretary at the Department of Housing and Urban Development. The position requires Senate confirmation and would put Stevens in charge of the government’s housing mortgage-insurance program.

Stevens now is the head of Long and Foster Companies, a real estate and mortgage firm. He previously worked at World Savings bank and Wells Fargo Home Mortgage.

At Freddie Mac, Stevens was a senior vice president in charge of affordable lending, sales and marketing.

It’s Washington’s favorite parlor game during a presidential transition: trying to figure out who’ll land a top spot in the new administration. President-elect Barack Obama is weighing an array of Washington insiders and outsiders, including some Republicans, for Cabinet and other top positions, according to Democratic officials.

Just like the stock market, names rise and fall weekly, some zooming to the top, others dropping out of contention. Hillary Rodham Clinton suddenly is considered the top prospect for secretary of state, although other names remain in the mix. It looks like Eric Holder, former deputy attorney general, is on track to become attorney general.

Some of those who are the subject of speculation already have been chosen by Obama to serve as part of his transition team. For example, former Sen. Tom Daschle was picked Wednesday to lead Obama’s working group on health care, the same day word surfaced that he’s accepted Obama’s offer to serve as secretary of health and human services.

Some names being floated are surprising, such as former Bush Secretary of State Colin Powell for education secretary. Others are high-profile governors or members of Congress. Many are also little known to the general public – and may remain so.

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DEFENSE SECRETARY

Defense Secretary Robert Gates.

Former Navy Secretary Richard Danzig.

Sen. Chuck Hagel, R-Neb., critic of Iraq war, retiring from Senate.

Sen. Jack Reed, D-R.I., member of Senate Armed Services Committee.

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TREASURY SECRETARY

Timothy Geithner, president of Federal Reserve Bank of New York.

Former Federal Reserve Chairman Paul Volcker.

Lawrence Summers, former treasury secretary and one-time Harvard University president.

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SECRETARY OF STATE

Sen. Hillary Rodham Clinton, D-NY, former first lady and one-time rival of Obama’s for the Democratic presidential nomination.

Gov. Bill Richardson, D-N.M., former U.N. ambassador and energy secretary.

Sen. John Kerry, D-Mass., 2004 presidential nominee.

Sen. Chuck Hagel, R-Neb., critic of Iraq war, retiring from Senate.

Richard Holbrooke, former U.S. ambassador to the United Nations.

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ATTORNEY GENERAL

Eric Holder, former deputy attorney general.

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HEALTH AND HUMAN SERVICES SECRETARY

Former Senate Majority Leader Tom Daschle, D-S.D.

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HOMELAND SECURITY SECRETARY

Arizona Gov. Janet Napolitano.

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CIA DIRECTOR

John Brennan, former director of the National Counterterrorism Center

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NATIONAL INTELLIGENCE DIRECTOR

Tim Roemer, former Indiana congressman and member of the 9/11 commission.

Rep. Jane Harman, D-Calif., chairwoman of House Homeland Security intelligence subcommittee.

Jami Miscik, former head of CIA’s analytical operations.

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NATIONAL SECURITY ADVISER

James B. Steinberg, former deputy national security adviser.

Susan Rice, former assistant secretary of state for African affairs.

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ENERGY SECRETARY

Dan Reicher, director of climate change and energy initiatives at Google, former assistant energy secretary in charge of efficiency and renewable energy programs in the Clinton administration.

Former Rep. Philip Sharp, D-Ind., president of Resources for the Future think tank.

Kansas Gov. Kathleen Sebelius.

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INTERIOR SECRETARY

Former Oregon Gov. John Kitzhaber.

Former Alaska Gov. Tony Knowles.

Sen. Ken Salazar, D-Colo., former executive director of Colorado Natural Resources Department.

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EPA ADMINISTRATOR

Lisa P. Jackson, commissioner of New Jersey Department of Environmental Protection.

Mary Nichols, head of California Air Resources Board.

Kathleen McGinty, former secretary of Pennsylvania Department of Environmental Protection.

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HOUSING AND URBAN DEVELOPMENT SECRETARY

Rep. James Clyburn, D-S.C.

Renee Glover, head of Atlanta’s housing authority

Nicholas Retsinas, director of Harvard’s Joint Center for Housing Studies

Shaun Donovan, commissioner of New York City’s housing department.

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LABOR SECRETARY

Ed McElroy, former president of the American Federation of Teachers

Former Rep. Dick Gephardt of Missouri

Linda Chavez-Thompson, former AFL-CIO vice president

Former Rep. David Bonior, member of Obama’s Transition Economic Advisory Board.

Maria Echaveste, former Clinton White House adviser.

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COMMERCE SECRETARY

Laura D’Andrea Tyson, former chair of White House Council of Economic Advisers under President Clinton.

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OFFICE OF MANAGEMENT AND BUDGET DIRECTOR

Peter Orszag, director of Congressional Budget Office.

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EDUCATION SECRETARY

Colin Powell, former secretary of state, former chairman of Joint Chiefs of Staff.

Kansas Gov. Kathleen Sebelius.

Arne Duncan, chief executive officer of Chicago public schools.

Inez Tenenbaum, former South Carolina schools superintendent.

Linda Darling-Hammond, education professor at Stanford University.

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TRANSPORTATION SECRETARY

Jane Garvey, former head of Federal Aviation Administration.

Rep. James Oberstar, D-Minn., chairman of House Transportation Committee.

Mortimer Downey, former deputy transportation secretary.

Rep. Peter DeFazio, D-Ore., member of the House Transportation Committee.

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AGRICULTURE SECRETARY

Former Iowa Gov. Tom Vilsack.

Tom Buis, president of National Farmers Union.

Former Rep. Charles Stenholm, D-Texas.

John W. Boyd Jr. of Virginia, president of National Black Farmers Association.

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VETERANS AFFAIRS

Tammy Duckworth, a disabled Iraq war veteran and Illinois veterans affairs director.

Former Sen. Max Cleland of Georgia, a Vietnam veteran who had three limbs amputated after a grenade blast.

Current VA Secretary James Peake.

A look at where Democrat Barack Obama and Republican John McCain stand on a selection of issues:

ABORTION

McCain: Opposes abortion rights. Has voted for abortion restrictions permissible under Roe v. Wade, and now says he would seek to overturn that guarantee of abortion rights. Would not seek constitutional amendment to ban abortion.
Obama: Favors abortion rights.

AFGHANISTAN

McCain: Favors unspecified boost in U.S. forces.
Obama: Would add about 7,000 troops to the U.S. force of 36,000, bringing the reinforcements from Iraq. Has threatened unilateral attack on high-value terrorist targets in Pakistan as they become exposed, “if Pakistan cannot or will not act” against them.

CAMPAIGN FINANCE

McCain: The co-author of McCain-Feingold campaign finance law is running his general campaign with public money and within its spending limits. He urged Obama to do the same. He applied for federal matching funds for primaries but later turned them down so he could spend more than the limits. The Federal Election Commission belatedly approved his decision to bypass the primary funds, but rejected McCain’s claim that he needed no such approval.

He raised more than $160 million before having to stop to accept the $84 million in public money for the fall. McCain accepted primary campaign contributions from lobbyists.
Obama: The presidential campaign’s fundraising champion has brought in more than $450 million. He is raising private money for his general election, despite his proposal last year to accept public financing and its spending limits if the Republican nominee does, too. Obama refuses to accept money from federal lobbyists and has instructed the Democratic National Committee to do the same for its joint victory fund, an account that would benefit the nominee. Obama does accept money from state lobbyists and from family members of federal lobbyists.
CUBA

McCain: Ease restrictions on Cuba once U.S. is “confident thatthe transition to a free and open democracy is being made.”
Obama: Ease restrictions on family-related travel and on money Cuban-Americans want to send to their families in Cuba. Open to meeting new Cuban leader Raul Castro without preconditions. Ease trade embargo if Havana “begins opening Cuba to meaningful democratic change.”

DEATH PENALTY

McCain: Has supported expansion of the federal death penalty and limits on appeals.
Obama: Supports death penalty for crimes for which the “community is justified in expressing the full measure of its outrage.” As Illinois lawmaker, wrote bill mandating videotaping of interrogations and confessions in capital cases and sought other changes in system that had produced wrongful convictions.

EDUCATION

McCain: He is not proposing a federal voucher program that would provide public money for private school tuition, in contrast to his proposed $5 billion voucher plan in 2000. Only proposes expansion of District of Columbia’s voucher program. Sees No Child Left Behind law as vehicle for increasing opportunities for parents to choose schools. Proposes more money for community college education. 
Obama: An $18 billion plan that would encourage, but not mandate, universal pre-kindergarten. Teacher pay raises tied to, although not based solely on, test scores. An overhaul of No Child Left Behind law to better measure student progress, make room for non-core subjects like music and art and be less punitive toward failing schools. A tax credit to pay up to $4,000 of college costs for students who perform 100 hours of community service a year. Obama would pay for part of his plan by ending corporate tax deductions for CEO pay. Has backed away from his proposal to save money by delaying NASA’s moon and Mars missions.

ENERGY
McCain: Favors increased offshore drilling and federal money to help build 45 nuclear power reactors by 2030. Opposes drilling in Arctic National Wildlife Refuge. Proposed suspending the 18-cent a gallon federal gasoline tax but idea got no traction. Global warming plan would increase energy costs.
Obama: Now would consider limited increase in offshore drilling. Opposes drilling in Arctic reserve. Proposes windfall-profits tax on largest oil companies to pay for energy rebate of up to $1,000. Opposed suspension of the gas tax. Proposed releasing 70 million barrels of oil from Strategic Petroleum Reserve to boost supplies. Global warming plan would increase energy costs.

GAY MARRIAGE

McCain: Opposes constitutional amendment to ban it. Says same-sex couples should be allowed to enter into legal agreements for insurance and similar benefits, and states should decide about marriage. Supports the federal Defense of Marriage Act, which denies federal recognition of same-sex marriages and gives states the right to refuse to recognize such marriages.
Obama: Opposes constitutional amendment to ban it. Supports civil unions, says states should decide about marriage. Switched positions in 2004 and now supports repeal of Defense of Marriage Act, which denies federal recognition of same-sex marriages and gives states the right to refuse to recognize such marriages.

GLOBAL WARMING

McCain: Broke with President Bush on global warming. Led Senate effort to cap greenhouse gas emissions. Favors plan that would see greenhouse gas emissions cut by 66 percent by 2050.
Obama: Ten-year, $150 billion program to produce “climate friendly” energy supplies that he’d pay for with a carbon auction requiring businesses to bid competitively for the right to pollute and aimed at cutting greenhouse gas emissions 80 percent by 2050. Joined McCain in sponsoring earlier legislation that would set mandatory caps on greenhouse gas emissions. Increase federal fuel economy requirements beyond 35 mpg.

GUN CONTROL

McCain: Voted against ban on assault-type weapons but in favor of requiring background checks at gun shows. Voted to shield gun-makers and dealers from civil suits. “I believe the Second Amendment ought to be preserved – which means no gun control.”
Obama: Voted to leave gun-makers and dealers open to suit. Also, as Illinois state lawmaker, supported ban on all forms of semiautomatic weapons and tighter state restrictions generally on firearms.

HEALTH CARE

McCain: $2,500 refundable tax credit for individuals, $5,000 for families, to make health insurance more affordable. No mandate for universal coverage. In gaining the tax credit, workers could not deduct the portion of their workplace health insurance paid by their employers.
Obama: Mandatory coverage for children, no mandate for adults. Aim for universal coverage by requiring employers to share costs of insuring workers and by offering coverage similar to that in plan for federal employees. Says package would cost up to $65 billion a year after unspecified savings from making system more efficient. Raise taxes on wealthier families to pay the cost.

HOUSING
McCain: Open to helping homeowners facing foreclosure if they are “legitimate borrowers” and not speculators.
Obama: Tax credit covering 10 percent of annual mortgage-interest payments for “struggling homeowners,” scoring system for consumers to compare mortgages, a fund for mortgage-fraud victims, new penalties for mortgage fraud, aid to state and local governments stung by housing crisis, in $20 billion plan geared to “responsible homeowners.”

IMMIGRATION
McCain: Sponsored 2006 bill that would have allowed illegal immigrants to stay in the U.S., work and apply to become legal residents after learning English, paying fines and back taxes and clearing a background check. Now says he would secure the border first. Supports border fence.
Obama: Voted for 2006 bill offering legal status to illegal immigrants subject to conditions, including English proficiency and payment of back taxes and fines. Voted for border fence.

IRAN

McCain: Favors tougher sanctions, opposes direct high-level talks with President Mahmoud Ahmadinejad.
Obama: Initially said he would meet Ahmadinejad without preconditions, now says he’s not sure “Ahmadinejad is the right person to meet with right now.” But says direct diplomacy with Iranian leaders would give U.S. more credibility to press for tougher international sanctions. Says he would intensify diplomatic pressure on Tehran before Israel feels the need to take unilateral military action against Iranian nuclear facilities.

IRAQ

McCain: Opposes scheduling a troop withdrawal, saying latest strategy is succeeding. Supported decision to go to war, but was early critic of the manner in which administration prosecuted it. Was key backer of the troop increase. Willing to have permanent U.S. peacekeeping forces in Iraq.
Obama: Spoke against war at start, opposed troop increase. Voted against one major military spending bill in May 2007; otherwise voted in favor of money to support the war. Says his plan would complete withdrawal of combat troops in 16 months. Initially had said a timetable for completing withdrawal would be irresponsible without knowing what facts he’d face in office.

SOCIAL SECURITY

McCain: “Nothing’s off the table” when it comes to saving Social Security.
Obama: Would raise payroll tax on wealthiest by applying it to portion of income over $250,000. Now, payroll tax is applied to income up to $102,000. Rules out raising the retirement age for benefits.

STEM CELL RESEARCH

McCain: Supports relaxing federal restrictions on financing of embryonic stem cell research.

Obama: Supports relaxing federal restrictions on financing of embryonic stem cell research.

TAXES

McCain: Pledged not to raise taxes, then equivocated, saying nothing can be ruled out in negotiating compromises to keep Social Security solvent. Twice opposed Bush’s tax cuts, at first because he said they were tilted to the wealthiest and again because of the unknown costs of Iraq war. Now says those tax cuts, expiring in 2010, should be permanent. Proposes cutting corporate tax rate to 25 percent. Promises balance budget in first term, says that is unlikely in his first year.
Obama: Raise income taxes on wealthiest and their capital gains and dividends taxes. Raise corporate taxes. $80 billion in tax breaks mainly for poor workers and elderly, including tripling Earned Income Tax Credit for minimum-wage workers and higher credit for larger families. Eliminate tax-filing requirement for older workers making under $50,000. A mortgage-interest credit could be used by lower-income homeowners who do not take the mortgage-interest deduction because they do not itemize their taxes.

TRADE
McCain: Free trade advocate.
Obama: Seek to reopen North American Free Trade Agreement to strengthen enforcement of labor and environmental standards. In 2004 Senate campaign, called for “enforcing existing trade agreements,” not amending them.