mortgage rates
May 25th, 2010
NEW YORK — The housing slump isn't over. Tax credits and historically low mortgage rates have failed to lift home prices so far this year. “Although mortgage rates have fallen sharply, the combination of high unemployment, heavy indebtedness and tight credit suggest to us that demand will stumble,” said Paul Dales, an economist at Capital Economics. Mortgage rates are now 5 percent or less here. But its not going to last forever. We face some of the same issues that Europe faces: growing number of elderly, growing entitlements, unfounded pensions, out of control health care costs,