I found the bottom of the market! 4.5% mortgage rates

Secretary Paulson is proposing to lower mortgage rates to 4.5% to spark the housing and refinance markets.

BRILLIANT!

If you want to know the ideal DAY on which to sign purchase contracts, it's the day before that announcement.The moment everyone becomes convinced it's a great time to buy, the pendulum starts moving the other way.

Read the story at Bloomberg.com.

I don't believe this legislation would have much of an impact on preventing foreclosures, but if it increases home sales, it will stabilize home prices, and most importantly boost consumer confidence in housing.

There doesn't appear to be anyone opposed to this who can stop it. Keep your fingers crossed.