30 Year Fixed 5.75% 5.62%
15 Year Fixed 5.27% 5.09%
The mortgage rates listed in Yahoo today present the bare bones of the problem. After the Federal Reserve rescuing Bear Stearns and many other financial entities through lower interest rates, the rate for mortgages for 15 and 30 year loans has gone up.
When new home buyers can purchase homes at affordable prices at affordable rates under traditional lending formulas, then the current economic situation will change. Looks to me like the situation is getting worse rather than better.
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