RatWatcher

Housing, Dating, Marriage and the Tax Code

"According to the Fed (PDF file: February 2009 report, page A11),
> in 2007, the median net worth of an under-35 years old person in
> America was only $11,800--down from an astounding $80,700 in 2004"

I am surprised no one has challenged this $80K number. Sounds like pure BS to me...half of all people (all adults, or all employed adults, even) under 35 had a net worth north of $80K???? Unlikely.

Chart of the Day: 30 Year Fixed Mortgage Rate Falls to Record Low

With the lower rates, = lower payments, plus the fact stated in the article that only better credit applicants will get the new mortgages, the loans will perform. There should be no need for a bailout due to these refinancings.


On Jan 15 04:50 PM dtv999 wrote:

> I want to know who will be bailing out the 'good' banks that are
> selling 5% 30-year mortgages now when in 10 years interest rates
> jump to 10% due to inflation. The 'good' lenders of today will be
> in deep trouble then.