John Pseudonym

How Dumb Does the NAR Think Homebuyers Are?

"As the credit worthiness of the US financial system comes into question globally, rates are going to shoot up no matter what the Fed does."

I would call the situation absurd, if "grim" wasn't more appropriate. I think the economy would get better, faster, if the banks had lowered THEIR mortgage rates to track movements by the Feds....

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"International Monetary Fund (IMF) have informed Bernanke about a plan that would have been unheard-of in the past: a general examination of the US financial system."

There is a chance that the rating of US debt will be lowered. If that happens, interest rates will take off as foreign owners sell US debt instruments.

www.spiegel.de/interna...