Joined: This month
Posts: 784
by product
8/20/2015 at 8:31 AM
It is only my opinion but I think the rate hikes, both recent and proposed, are only the by product of a housing market downfall. The uncontrolled 150 - 200 percent increase of housing prices over the span of less than two decades creates instability where some profit greatly but most end up further behind. This was not helped by a mortgage system that allowed zero down long term mortgages to almost anyone. This, fortunately has been corrected somewhat.
The rates hikes are simply messing with the band aid on the previously and carelessly created wound.