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New Low for Mortgage Rates. So What!

DEC 22, 2011 2:25pm ET
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Another press release has arrived in my inbox, declaring a new low for mortgage rates. My initial response is: who cares! I don’t mean to sound like a jaded mortgage columnist, but the untold story on rates boils down to this: how come continued low rates have not caused home purchases to really boom? Well, I guess we already know the answer: a crummy employment picture (though it’s improving) and mortgages underwriting standards that are tighter than guitar strings. But one of these days – and maybe soon – a new class of nonprime lender may emerge to fund loans outside of the GSEs and FHA. How do I know this? There is thunder on the horizon…

Comments (9)
Someone once said: "It's the economy, stupid!"
Posted by | Thursday, December 22 2011 at 2:40PM ET
If we could ever get the Federal Government and politicians of both parties out of the way, those "Evil Banker" could take over and actually create mortgage programs that real borrowers actually want and can qualify for.
Posted by Doug H | Thursday, December 22 2011 at 3:34PM ET
And as soon as the economy/jobs does show real signs of improvement, these low rates will go away as investor money will move to equities.
Posted by Scott M | Thursday, December 22 2011 at 4:00PM ET
We , need Stream-Lined 3 % 30 year

Loans to put Real Payments = Equal

to the New Americas' Job & Pay

before Consumers start to consume again

Since , Real Income since 1974 is not

more the

1/2 -What it was then.

And we need a Income tax on incomes over

$150,000 minimum 35% and 1% more for

every dollar per $10,000 increase above

this up to 80% on income to infinity as

Pres., Eseinhower had in his

adminstration on Citizens and all

Businesses.Evaders are Nationalized and

Officers and Directors send to Prison

Minimum 10 Years.

And a 40% reduction in State & Federal &

Utility & and County & Cities until the

base = Avg., American Household income

of around $ 46,000.

And a warrant served on EVERY American

company not returning funds to America

yearly or natioalize the companies not

complying and then sale them at Auction.

And all Laws in America applied to all

Goverment and Politicans to they are

applied to avg., American Citizens.
Posted by | Thursday, December 22 2011 at 4:41PM ET
Why are Home-Owner loans " SOLD " for

10-20 cents on dollar

Not 1st offered to

HomeOwner in default before the

being basically given to the New York

Tribe - Banksters - Fraudsters

Posted by | Thursday, December 22 2011 at 5:11PM ET
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