MORE CUTS?

By
Real Estate Agent with Kilauea Real Estate Company

Mortgage rates are about the same as they have been averaging: 6.25 percent for basic conforming loans.

All other markets are in frantic action, a perfect mirror of the struggle between two groups for accurate perception of the economy. One crowd is plugged into the global economy, technology and stock-market optimism; to them, business has never been better. The second crowd is the bond/bank bunch: we weren't there at the time, but things look a lot like the run in to the 1930s.

Both are correct. However, only one will stay correct. Civilians are justified in asking what the hell is going on, and who -- if anyone -- is in charge.

That "balanced" line is supposed to mean no cuts ahead. Yet, the short-Treasury market has plunged a full percentage below the Fed. Anticipation of more cuts? Some, but mostly fear that credit loss is running out of control.

 Are more cuts coming?

Comments (2)

Jess Rankin
Pickering Group - Phoenix, AZ
Now we just need the govt. to step in and help people who got into bad ARM's.....just a freeze on those who want to sell.   -Jess
Nov 04, 2007 04:06 AM
Ronald Gillis
Southwest Florida Notaries (Mortgage Notary Signing Agent) - Port Charlotte, FL
CNSA Southwest Florida. Notaries, Port Charlotte, 941-7-NOTARY

A lot needs to be corrected.  While the government will likely step in, they need to help fix the ARM problem, but more importantly, enact steps to prevent it in the future.

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Nov 04, 2007 04:29 AM