The rate on a 5/1 arm is only slightly over 5%. I still don’t think it is time to buy, but these low rates look like they could at least give buyers and bagholders the means to perpetuate this mess (if they can qualify).
I’m starting to feel like a bagholder myself with Big Ben submarining the value of my dollar stash. At some point all of us pigs are going to have to confront the fact that the road to prudent wealth has gotten longer and we may be on the losing side of this epic battle.
