http://www.marketwatch.com/story/30-year-mortgage-at-record-low-401-2011-09-29-100200?siteid=bnbh
This article makes me wonder if people will take advantage of this opportunity to buy a house for themselves or try to make profit out of this.. I know that Olefson claimed that there are fewer people attempting to go into the housing business now days, but these are the same people who over draft from their credit card and who make big gables to get a bigger house without acquiring appropriate knowledge in this field.. The fundamental of all these issues is that people lack the minimum degree of comprehension in order to perform certain economic procedures.
I pray that the mortgage interest rate is going down simply because they don't have enough people to make the ideal profit.
The housing crisis began because of people thinking that they know the ins and outs of the housing market. It was a great deal that they couldn't pass up. Everybody wanted to make money. I'm sure this time around people will be smarter and not buy something they can't afford or have mortgagers give out mortgages at low prices only to see the interest rate increase again.
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