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Dow drop won't hurt mortgage rates -- but tomorrow's news may

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Mortgage Professional America | 31 Jul 2014, 03:34 PM Agree 0
The Dow plunged more than 317 points yesterday, but it shouldn’t have an effect on the mortgage market. However, that doesn’t mean rates won’t go up in the near future
  • Stan Brody | | 31 Jul 2014, 04:37 PM Agree 0
    Today... some six plus years into this depression... call it what you mnay, but it
    IS a dression, we still have spome 20% of all homes underwater... HAMP/HARP1-2-3
    whatever... have ZERO chance of properly addressing the crisis... TODAY, we still have
    $2.2 Trillion in uinderwater mortgages... if 100% of Fannie was HARPED, there would still be
    another $1.4 Trillion left behind... dragging down the market... Unless a proper Mark2Market
    modification program is instituted, we are looking at 2022 before housing is stabilized nationaly.
    The economy cannot possible fully recover without an at least stabilized housing sector...
  • | | 31 Jul 2014, 08:46 PM Agree 0
    Get ready for this whole economy to crack down the middle. It has been propped up by the government for the last 6 years with no real growth. Once rates rise it will kill housing and borrowing. This is going to be larger mess than sub prime.
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