What is Digg?3 Comments
- DCMacHead, on 10/12/2007, -0/+2Short rates from the post-9/11 rate cut cycle are still considerably higher than they were several years ago. A lot of people erroneously look at 10-year mortgage rates, which have traditionally been the benchmark off which 30-year mortgages aren't the primary means of financing property purchases in the "hot" (or formerly hot) markets for a long while.
Bottom line, lower 30-year mortgage rates aren't going to do a thing to stem the coming decline of real estate because short-rates are the ones that got the market to where it was (in my humble opinion, of course). - crazicanuck, on 10/12/2007, -1/+1If mortgage rates pause (or fall) then the economy can get a second wind. Irrational Exuberance Redux?
- scriabinop23, on 10/12/2007, -2/+0fed rates and energy prices have more to do with this than anything.
the only way the economy gets a second wind is if oil gets cheap.
In other words ... not gonna happen.
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