The worst housing market in the past 20 years, how will this affect you:

The houusing market continues to be losing ground, this will have a tremendous impact on the economy moving forward if there are no corrective actions taken. The good news is the overall health of the economy has been fairly strong so far this year and many companies have posted stronger than expected earnings. Clearly the housing market has taken a large blow, partially due to the long term effects of the fallout in the secondary mortgage market. What started as a problem with sub prime loans has carried over to all aspects of the market and taking 30-40% of borrowers out of the market due to a lack of products will only push the housing market further down. The good news is many economists believe the Federal Reserve is prepared to lower the Fed Funds Rate, which hopefully will help to bring some stability back into the marketplace and help reverse the present course. ©LowRateMortgage.com 9-1-2007

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