Iâ€™m still floating mortgage rates, unless my clients are closing within 14 days. Iâ€™m cautiously floating because of the volatility in the market. Fundamentally, mortgage rates shouldnâ€™t have a whole lot more room to come down; the Fed cuts are probably coming to an end.
Something much more drastic than the Fed open market activities will be needed to pull us out of the recession.
Yep. I said the R word and have been since last fall. Iâ€™m not scared of the recession; I welcome it.
Hereâ€™s the trick for mortgage rates. The weak dollar has world investors believing that the Fedâ€™s easy money policy is inflationaryâ€¦
The recession hits them. Make no mistake about it, the economic slowdown is a global phenomenon. Canada and the UK are following suit by cutting rates. I think the world wide recession will lower oil prices and provide some much needed relief to the American consumer. Continue reading this post