Wednesday, September 21, 2011
What is "Operation Twist," And What Does It Have to Do With Mortgage Rates?
The Federal Reserve (FOMC) concludes an unusual 2-day meeting this afternoon, and the expectation is that they'll
announce America is a declining empire signal the use of "tools" to help the massive debt issues and structural unemployment crisis. The upside to the crisis is historically low mortgage rates, now about 4.09%. Nevertheless, few folks are willing or able to take advantage and housing remains moribund. The green line in graph 2 helps explain why mortgage rates are so low.