One of the most intriguing challenges that President Obama has to face is the task of getting the housing market in order. Home prices were extremely inflated during the second half of this decade. Now prices have fallen drastically and have yet to find a bottom. President Obama and his administration are trying to help find a bottom in the housing market by putting a ceiling on mortgage rates. Will this help the overall economy and the housing market?
Just last week, the government bought $51 billion in mortgage backed securities. If the Federal Reserve Bank continues to do this, it is likely that we will see mortgage rates fall to as low as 4%. The question is: does it matter how low rates are? If Americans are struggling to get jobs, does it honestly matter how low mortgage rates are? That is where President Obama has stepped in again! He is doing his best to create jobs in this country. “You have to spend money to make money” is a phrase that any successful person has heard. This is exactly what President Obama is doing and it will help to determine his legacy as the leader of the United Staes.
Ultimately, I am not sure that it matters that mortgage rates are extremely low; what really matters is the American psychology about the economy and housing market. If America thinks things are going to get better, it could do a lot to get us out of this recession. As always, make sure to vote for President Obama on the Dollar here. We are trying to get over 1 million votes, so tell your friends!
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Since Obama took office forclosures have almost doubled…Unemployment as went from 5 percent to 9 percent… We spent money we don’t have… Our nation as gone future into the tiolet…
A new government posted web site area complete with bias and slanted, jaded information and prospective signed by the admistration that took over to secure their (News reporting?) position…..haha sorrry sadly funny though.
Sleep American Sleeeeepppppppppp deeper you go!
When you awake there will be cans of cat food for you too still available. Maybe not overpopulation will only allow for so many but not to worry gentle souls just sleep!
It’s back to Fox news for me till the government shuts that down and won’t renew their license under the new information acts.
Blatantly obvious you all are! Good little sheep you get to keep your jobs for a bit longer
The campaign is OVER….so pease don’t insult the hard working, intelligent Americans intelligence by propagandizing us. Obama has stepped into areas he has not the background or experience in and has just made matters worse. Talk to anyone onthe street that owns a home, ask them if they have got it refinanced or a loan modification …you will not find a one.