More Housing Help
Fed Chairman, Ben Bernanke, made a speech this morning saying more help for homeowners is needed. Hopefully, it's not too late in the game, but the Treasury and Fed have now determined that stopping foreclosures and the downward spiral in home prices is necessary to get the economy stabilized. I agree that housing is at the root of the economy's problems. Lower mortgage rates will not only help the housing market but also the overall economy by increasing disposable income for those that are able to refinance at low rates. Taking this further, low mortgage rates when combined with new low energy prices could provide a strong economic stimulus.