Irresponsible FED suppressed mortgage rates and created a low income housing crisis.

[MarathonMike]

By keeping interest rates ridiculously low for home loans, what the FED did was create an investor feeding frenzy for buying up properties, renovating and then either flipping or raising rents beyond the means of many low income people. They didn't raise them until inflation spiked and then they over-reacted and DOUBLED the mortgage rates within a few months. A year ago a 30 year mortage was 2.88% It is nearly 6% now and sure to go up in the near term. The FED drives this economy like a bad driver who is either pedal to the floor or riding the brake. We have complete IDIOTS running this economy.

 

[Dekster]

By keeping interest rates ridiculously low for home loans, what the FED did was create an investor feeding frenzy for buying up properties, renovating and then either flipping or raising rents beyond the means of many low income people. They didn't raise them until inflation spiked and then they over-reacted and DOUBLED the mortgage rates within a few months. A year ago a 30 year mortage was 2.88% It is nearly 6% now and sure to go up in the near term. The FED drives this economy like a bad driver who is either pedal to the floor or riding the brake. We have complete IDIOTS running this economy.

What bastards!!!! Well, maybe if you bought your house on a credit card or adjustable rate mortgage pegged to the fed rates. Conventional mortgages, however have a fixed rate that are unaffected by any changes in the fed rate and they are largely set by individual lenders based on their desired volume of applications. The applications start dropping, the lower the rate. Applications coming in faster than they can process, they raise the rates.

 

[Admiral Rockwell Tory]

By keeping interest rates ridiculously low for home loans, what the FED did was create an investor feeding frenzy for buying up properties, renovating and then either flipping or raising rents beyond the means of many low income people. They didn't raise them until inflation spiked and then they over-reacted and DOUBLED the mortgage rates within a few months. A year ago a 30 year mortage was 2.88% It is nearly 6% now and sure to go up in the near term. The FED drives this economy like a bad driver who is either pedal to the floor or riding the brake. We have complete IDIOTS running this economy.

Hey shit for brains! The fed does not set mortgage rates! Your entire post is fucked up beyond belief!

 

[MarathonMike]

Hey shit for brains! The fed does not set mortgage rates! Your entire post is fucked up beyond belief!

Fuck of Corporal Tory! So Fed rates have no effect on mortgage rates? You are a perfect combination of arrogance and ignorance.

 

[Admiral Rockwell Tory]

Fuck of Corporal Tory! So Fed rates have no effect on mortgage rates? You are a perfect combination of arrogance and ignorance.

When did I say that, fucktardo?

You said:
By keeping interest rates ridiculously low for home loans, what the FED did was create an investor feeding frenzy for buying up properties, renovating and then either flipping or raising rents beyond the means of many low income people.

The fed does NOT set mortgage rates.

 

[Riff Raff]

By keeping interest rates ridiculously low for home loans, what the FED did was create an investor feeding frenzy for buying up properties, renovating and then either flipping or raising rents beyond the means of many low income people. They didn't raise them until inflation spiked and then they over-reacted and DOUBLED the mortgage rates within a few months. A year ago a 30 year mortage was 2.88% It is nearly 6% now and sure to go up in the near term. The FED drives this economy like a bad driver who is either pedal to the floor or riding the brake. We have complete IDIOTS running this economy.

Biden's appointments to the Fed were were mostly racist black radicals.