Friday, October 7, 2011
Mortgage Rates Fall Below 4%
Here's a video that discusses how rates are at a historic low; however, people who can refinance already have and many people owe more than their house is worth. These rates, however, are not making the crisis any better. These new low are not bringing any more people into the mortgage. The mortgage crisis will not be fixed by low rates because many of them are underwater. We need more jobs to fix this crisis. Mortgage rates fall below 4%
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Interesting point and video. This really connects with what Olefson was talking about when she said that the opportunity is there for people who didn't get caught in the mortgage bubble to take advantage of this market. With rates low and few people willing/interested to get in, those who aren't still dealing with debt issues could really benefit from making an investment in this market.
ReplyDeleteI cannot believe that falling mortgage rates have not helped the crisis. I understand that it will not fix the mortgage crisis but I feel as though it should be helping more.
ReplyDeleteI think much more drastic measures will need to be taken to fix the economic and generational altering situation we have put ourselves in.
ReplyDeleteThis video is a good eye opener though