Locking rates at 4.5% will just delay the foreclosures. The big problem is that the US has to get money from overseas, and foreigners need very high rates to loan money to the US as the dollar plummets. Look at the CitiGroup deal, 11.5% who can loan money at 4.5% and pay 11.5%? I Think even the fools that could not see the current mortgage mess, like most who visit this sight did, will see that can not work.
