Starting to add up yet Mr President?
So we have the lowest recorded interest rates in history (according to FHLMC) appx 2 weeks ago when the avg 30yr fixed rate was below 4%. And what is the next serious of news releases. mortgage applications DECLINE?!?!
Decline when rates are the lowest in HISTORY? How could this be you ask? Well lets consider consumer confidence is at, or near, all time lows, unemployment is around the 15% mark, increasing taxes on the wealthy (the ones who actually pay the bulk of all US taxes, as over 50% pay none at all) + the fears from Bernanke's speech for, telling the truth, that if we don't abandon this BS of political party line votes and constant fighting with no action and no results (as we ALL have to get the glory or we wont play on your team...) have to go or Amereica is facing the reality of a Collapse!
Your team? Hold on this IS NOT YOUR team this is OUR TEAM. This is America and we are ALL Equal here. It is not yours to destroy! It is not yours to use the power your were elected in, to be used as a battering ram for your agenda and not the agenda of America! Watch out Mr President your re-election is not only NOT guaranteed, as you may have thought, but from the polls, sentiment and economy I see it is greater your a 1 term pres than getting to completely destroy America with a 2nd term.
Add to the DECLINE in applications for Mortgages during the history making lows, Larry Bettag had a post showing that with the implementation of all these NEW REGS and requirements that mortgage fraud is almost double! Yeah almost double what it was before.
So if you wonder the capacity of the current Brain Trust in Washington there are some interesting stats to think about. Lowest rates in history with mortgage applications down. heaviest and tightest regulations in industry with fraud at almost double its highs!
Way to go and keep up the good work. If you get another 4 you can put about 80% of the population on food stamps and government hand outs at this rate!