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Strategies & Market Trends : New US Economy Policy
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From: Arthur Tang8/3/2007 7:26:09 AM
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As usual, Wall street mentality wants to create a 1929 crash in the remortgage industry.

In October this year Feds will approve 4.5% 30 year fixed mortgage(FHA and VA approved) for Fannie Mae and Freddie Mac to purchase. And the remortgage industry will help stop the foreclosures. Remortgage is sensitive to the rising value of older homes over the years.

Alan Greenspan had done it to remortgage the 13% 30 year fixed mortgage years ago, and Feds had the successful experience to do it again.

So, we don't want layoff in the mortgage industry. And feds had to notify the member banks right away.

Footnote:
FHA and VA approved buildings are subject to low down payment, low interest rates, and small mortgage insurance fee paid back after 30 year loan is paid back.
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