The Fed Puts Away Its Checkbook
The program that saw the Federal Reserve pump more than a trillion dollars into the purchase of mortgage-backed securities came to an end yesterday. The Fed’s purchases helped drive rates on 30-year mortgages down from over 6 percent when the program started in early 2009 to under five percent last month. Susan M. Wachter, professor…
The program that saw the Federal Reserve pump more than a trillion dollars into the purchase of mortgage-backed securities came to an end yesterday. The Fed’s purchases helped drive rates on 30-year mortgages down from over 6 percent when the program started in early 2009 to under five percent last month. Susan M. Wachter, professor of real estate and finance at the Wharton School of the University of Pennsylvania, called the program the single most important move to stabilize the economy and to prevent a debacle.” The big question now is, Where do rates go from here?
Fed Ends Its Purchasing of Mortgage Securities [NY Times]
be rude – RE positions up 100% since the peak? Where? Not in NYC. Not in YOUR building. Oh, stocks? Yeah. How long do you think that’ll last?
No, swamping the blog with truth and getting responses from guys like you makes me feel like I’m on to something. The best buying opportunities can turn into the best losing opportunities in a matter of seconds.
***Bid half off peak comps***
> the best buying opportunity in a generation
Oh, I get it now. I forgot today was April 1st!
> the best buying opportunity in a generation
Ri-i-i-i-ight. Got tulips?
BHO, positions that are up over 100% feel pretty good … no need to obfuscate to make ’em feel better.
Does swamping the blog with rhetoric make you feel better for having missed the best buying opportunity in a generation??
They were jacked FROM 8 percent during the 70’s TO nearly 20% in the early 80’s, mopar. That’s the upside we face now (20% not necessarily being the upper limit this time) as credit contracts due to hidden bank losses and risk. There’s nowhere to go but up, up, up and awaaaaaaaay.
***Bid half off peak comps***
DIBS — I definitely don’t follow that. I read all sorts of articles related to economics and the various markets (housing included) in The Economist, NY Times, WSJ, etc. But what you posted above crosses some line — and I turn off. It’s not that I couldn’t understand if I wanted to… it’s just that I don’t want to!
Good thing there are folks like you and differently-intelligent frat boys out there.
If rates are gonna go up so much, then probably I’d buy something now and lock in low rate.
Rates were only at 8 percent (and before that, 20) because the Fed was purposefully jacking them up to head off inflation.
They were at 5 percent for years in the 50s and 60s.
> semi-retarded frat boy
That is so un-PC!
One should say “differently smart.”