loan: 5% MORTGAGE INTEREST RATES?
- 11/06/07 11:16 AM
The manager of the world's largest bond fund predicted that the Federal Rate "cannot afford" to let U.S. housing prices fall and will have to cut interest rates aggresively to prevent it from happening. "A Fed cannot afford to let homes go down by 10-15 percent" Bill Gross chief investment officer of Pacific Investment Management Co., said on CNBC Television. Gross expects the Fed to cut the federal funds short-term rate to 3.5 percent, which implies that the 30-year mortgage rates will come down to 5 percent to 5.5 percent. (Source:Real Estate News & Reuters News 11/05/07) I prefer to see the glass … (0 comments)
The manager of the world's largest bond fund predicted that the Federal Rate "cannot afford" to let U.S. housing prices fall and will have to cut interest rates aggresively to prevent it from happening.;)
;)
