One Third of Americans Unable to Get 30 Year Mortgages in September 2010
My thoughts on this are as follows:
If most people with credit scores below 620 are not able to get home loans the housing market will not be recovering anytime soon. If the housing market will not be recovering anytime soon I don’t see interest rates going up anytime soon. If interest rates don’t go up anytime soon, hyper-inflation is almost immanent.
Although these seem like some bad things there are always ways to make money in a market like this.
I’m sure you can come up with other ways to hedge yourself against the future economic turmoil, but as for me and my house were moving our dollars into precious metals and holding onto our rental properties.
- Third Of Americans Can’t Get Mortgages As Interest Rates Hit Record Lows (huffingtonpost.com)
- One-third ‘highly unlikely’ to get mortgage (money.blogs.time.com)
- Mortgage rates can’t do all the heavy lifting (hsh.com)
- Benefit of higher credit score dwindles at top end (seattletimes.nwsource.com)