This article was brought to my attention in Bill Fleckenstein’s latest article (see link to the right for a list of his articles). As I mentioned in my post on April 3, even though the Fed is lowering rates, the 30 year mortgage rate, which is determined by the market, is not falling and in some cases, rose a bit. read more here:
Mortgage rates are determined by the market and only partially respond to changes in the Fed-controlled short term rates. Remember that if you are one of the many hoping to refinance at lower rates…
Chris Grande
4.7.08
