Despite Record Low Mortgage Rates - Massive Foreclosures & Prices Correction Looming!! - Must View Video

The Atlantis Report

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Despite Record Low Mortgage Rates — Massive Foreclosures and Prices Correction Looming
Mortgage rates fell to an all-time record low in the week ending 2nd July. The weekly decline came off the back of a hold in the previous week.

30-Year fixed rates fell by six basis points to an all-time low 3.07%. In the previous week, 30-year fixed rates had held steady at 3.13%.

Compared to this time last year, 30-year fixed rates were down by 68 basis points.

The mortgage rates are going to continue dropping.

It should be 2.0 to 2.5%. There’s no reason we should pay any interest in our homes when the FED is handing out free money.

The math is ugly. Consider how many americans live paychecks to paycheck, how many are actually out of work, or have had income cut significantly. How slow jobs will be to return to previous levels. 10s of millions of homes just became too expensive for the people that “own” them. Homelessness will pop way up. 

Rates will continue to fall.

Not a terrible time to get home.

Wall Street is a drug addict deprived of its drug, which is frankly why the markets kept climbing. Vast amounts of liquidity, zero-bound rates, QE to infinity and beyond, are an addiction not easily kicked. 

Wall Street is demanding the Fed move, and the Fed acting as a cocaine pusher is happy to oblige. Trillions more dollars in “stimulus,” endless money printing, eternal debt.

Overpriced and rates will fall. Hyped up home prices need to go down for any chance in sales increase. More like “lenders are desperate to lock in rates that are set to decline further.

No need to rush. These rates have yet to bottom and will be south of 4% for years to come. Don’t buy an overpriced home but refinance if your current mortgage has a higher interest rate.

Rates will not go lower without more government help in purchasing back mortgage securities. And the Fed will pump trillions to get these rates lower and lower.

Should you rush out there to get a mountain of cheap mortgage money, when you don’t have a job to make the payments with?

Or are the low rates only for the very wealthy? Who can once again take advantage of a crisis to put more distance between themselves and the rest of America?

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