smoothlid

Homeownership: The Root of All Evil, or the American Dream?

One more thing to add, Andrew....
Rates SHOULD be lower right now. When the rest of the market starts BUYING mortgage backled securities instead of net selling them (due to writedowns, leverage, etc...) we WILL get the rate reduction later this year....rates could go as low as 4.5% on a 30 yr loan.

What needs to happen is Congress should pass the FHA bill, get the new guidelines out there, Fannie should roll back some of the surcharges, & give us a few months of no volatile changes in rates, rules, etc....& then we can work through some of this mess.