CNN "Money Team" : Mortgage rates could fall BELOW 4%

[SoCalDem]

BUT..for NEW mortgages only..and guess who will qualify for those "new" mortgages? Rich people who have some cash..

They are the ones who are patiently standing by, as more and more foreclosures happen, and when "planets align, just so", and prices are just right..they will pounce on those cheap mortgages.. They are afraid to risk "the market", and T-Bills are in the neagtive..gold is sky-high.. meaning that real estate is the logical place to invest..and at fire-sale rates..

People like us, who have been in the same house for a long time will NOT see our mortgage rate lowered to the <4%, nor would we probably qualify, due to age and approaching retirement...and the younger folks just entering the housing market probably will not have the credit rating to get it either..

This is another perk-in-waiting for the moneyed classes and for the builders who have a shit-load of new homes and nearly-new homes that are vacant and/or unsold..and the start of the "next" property boom..:grr: