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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: sea_biscuit who wrote (71461)11/21/2007 12:45:52 AM
From: mishedlo  Read Replies (2) of 116555
 
Freezing Mortgage Rates Will Fail
globaleconomicanalysis.blogspot.com
Schwarzenegger announced a deal with 4 mortgage lenders to freeze adjustable interest rates for some high-risk borrowers. Terms of the deal include lenders having the ability to determine what homeowners can afford to pay. Throughout history, every attempt at wage and price freezes has failed. Mortgage freezes will fail as well, for many reasons.
Mish
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