It's a classic example of the law of unintended consequences. Some experts feel that the Fed's move to lower mortgage rates in order to stimulate the economy via an improved housing market may not deliver the expected results. In fact, the vast majority of new mortgages are re-fi's which won't provide any real help to the housing market, since no homes are bought and sold. Go to the article on CNBC.com to the whole story.
Tuesday, March 31, 2009
Fed's Move to Lower Rates May Backfire
It's a classic example of the law of unintended consequences. Some experts feel that the Fed's move to lower mortgage rates in order to stimulate the economy via an improved housing market may not deliver the expected results. In fact, the vast majority of new mortgages are re-fi's which won't provide any real help to the housing market, since no homes are bought and sold. Go to the article on CNBC.com to the whole story.
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