[quote=patb][quote=scaredycat]so what does it all mean? does this mean prices have to remain stable no matter what?[/quote]
I’d say it means the Feds now dominate mortgages which in many
respects means they control price and supply. if they don’t make
mortgages available prices fall. if they increase rules, prices fall.
if they release inventory prices fall.
On the other hand the feds have a lot more hang time then a bank
so they can withhold inventory, print mortgages and choose prices.
so far people are having a hard time documenting to meet FHA standards.[/quote]
This is old news Pat! They have been doing this for some time and won’t stop as they have plenty of vested interest in the banking system.
Controlled supply + low rates = uninformed buyers
Uncontrolled supply + higher rates = where we should be right now
