No. of Recommendations: 4
Argument I heard today was to give the housing market a kick. Housing is a huge part of the economy and the market is stagnant due to high mortgage rates.
But does the lowering of the fed short term rates really impact mortgage rates, which are more based on the market driven 10 year rates? Just because something is used as an excuse as to why something should be done, doesn't mean that's the real reason. It's just the acceptable goal to sell a desired outcome by those in power.
No one with a 3% mortgage wants to move.
This person with a 2% mortgage wants to sell, but most "buyers" have no desire to buy no matter what the rate. They are too busy being curled up in a sea of anxiety caused by the uncertainty that surrounds them.
IP
