Reading these columns in recent weeks I get the idea that everyone is addicted to fixed rate mortgages.
To get the Bernanke put for housing you are all going to have to get used to ARMs (standard ones I mean and ot the rip-off teaser type) to get the benefit.
If anything, the more Bernanke acts, the greater the risk that fixed rate mortgages will become more expensive.
The mortgage lenders o seem to be bending over backwards to help with their loan to value maximums. Then $64bn question I have about the current mortgage market in SC is why are sane bakers offering mortgages anywhere near 100% to buy in sub-prime high foreclosure areas; even if your income is good. I wouldn’t lend more than 70%.
