Friday, October 17, 2008

Mortgage Rates Increase Due to Bailout

The federal government bailout has pushed mortgage rates up, which is now threatening home sales and its making it even more difficult for those with adjustable rates -- including those with subprime mortgages -- to afford their mortgage payments. With it being harder to sell homes due to the higher interest rates and the threat of even more defaults, it looks like the bailout is going to make things worse.

Didn't I predict that the bailout would make things worse?
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