Comments for Mortgage Rate Predictions Looking Bleak for Home Owners »
Posted By ChangeToday 6 months, 3 weeks ago in NewsMortgage rate predictions were extremely easy to make from October of 2008 until just two weeks ago; in more words or less, mortgage rates were going down, down and down some more. There were some weeks where rates saw a slight bounce of .05% or so but nothing compared to have happened last week. Mortgage rates saw a jump of almost 50 basis points as rates went form 4.91% to 5.29%. This is very bad news for current and future home owners.
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HomerJS49Comment removed: Abusive
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DarkWizard6 months, 3 weeks ago
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Does this really matter at this point in the economy? As we reach 10 percent unemployment (officially) and absolutely no results are being seen, on the consumer's end, from all of the bailouts, interest rate jumps in the housing industry have little impact.
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The people who have money already have refinanced and have the home(s)/properties they want. Therefore, this has little or no impact on those that can't afford to live in the home they're in.
In reality, the bigger impact is still to come in the form of forcing financial collapse on middle class households that would be able to afford their lifestyle in a normalized economy. Unfortunately, we are living in anything but normal times and the various industries will continue to fleece every possible venue until controls are implemented and enforced. -
7thspagesComment removed: Hard Banned
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