Mortgage Rates Forecast VERY Tough to Figure Out »
Posted By ChangeToday 5 months, 4 weeks ago in News
The current mortgage rates forecast is getting very difficult to figure out! For awhile we could just say that mortgage rates were going down but that seems to be over. Rates have went from 4.8% to 5.29% in two weeks! This is unreal; it is now the highest level we have seen in 2009. I sure hope this does not continue as many people are going to lose interest in the housing market. It would be very reassuring to see home prices actually increase in the next few months!
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EDWARDIII5 months, 3 weeks ago
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It makes no sense to hope that interest rates do this or that. Interest rates, like other forms of price, are exactly what they should be if they are left to react to market forces without tinkering. If interest rates are manipulated to fit someone's ideal then they cease to be useful indicators. They become false indicators and lead people into bad decisions.
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Also, it is no surprise that rates can't be predicted. If anyone could accurately predict anything about the economy then it would be possible to create a perfect speculation model and gain invariable profit. This points out the fallacy in government intervention. Fed tinkering assumes that someone is so smart that they can not only predict markets, but predict the effect of some adjustment of variables.
To give a government agency arbitrary power over the elements of the economy is comparable to accepting a Hobsian leviathan as the only alternative to disorder.
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