So if this cut directly has no benefit to homeowners facing foreclosure, and very limited benefits to those who may see a fraction lower payment on say a HELOC or a maxed out credit or 5, then who does this cut benefit? In other words, sure there may be some corrupt elite at the top winning out, but how do they justify the logic for a cut?
The obvious answer is it makes money cheaper to borrow, but that money inevitably has to be paid back, and that’s the whole problem with the housing industry right now. So… again, what good does throwing more liquidity in the form of cheaper debt really do?
