House Poor: Pumped Up Prices, Rising Rates, and Mortgages on Steroids: How to Survive the Coming Housing Crisis Mortgage rates are higher now than last week, back up to 6.5 percent for 30-year, fixed-rate mortgages. Even with the recent rate cut, the market still seems to be listening to the inflation bears, gold bugs and the talk of massive global growth portending inflation concerns. Unfortunately, many believe that they may be right. The economy may receive some small benefit from the cut but the crunch is still in place, especially in the mortgage lending sphere. Big currency moves often involve confidence, and it is disturbing in a time of financial crisis to find money running away from the dollar, the historical safe-haven. Confidence has aspects beyond interest rates and inflation with many questioning the policies of our current President concerning Mid-East matters.

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