Submitted by mercedes7 on September 16, 2008 - 9:22pm
More bad news for the housing market...looks like lower rates will be very short lived. Finally they are starting to admit that the bottom is not in. See link below
If the Fed controls Freddie and Fannie, what's to prevent the Fed from going on a loan orgy and allow people on am ARM tied to Libor to refi into some product Fed creates?
Submitted by kev374 on September 16, 2008 - 10:26pm.
asking prices here in South Orange County are still THROUGH THE ROOF! Decent SFRs are still $280-350/sqft. when 5-6 yrs back they were selling for $150/sqft.
If the Fed controls Freddie and Fannie, what's to prevent the Fed from going on a loan orgy and allow people on am ARM tied to Libor to refi into some product Fed creates?
If they own the debt, why not allow 2% refi's? They own the printer.
asking prices here in South Orange County are still THROUGH THE ROOF! Decent SFRs are still $280-350/sqft. when 5-6 yrs back they were selling for $150/sqft.