People ask me if I think the turbulence in the market is over. My answer is typically, it has only just begun. Clients ask why it is taking so long to obtain approvals or even get a loan clear to close. My answer is because the banks are changing their loan programs daily, are not really sure of what the changes are and are way understaffed. My clients ask why the interest rates are so high for mortgages when the prime rate is dropping. My answer is the mortgage rates are no longer based on current interest rates, but are based on saleability of mortgage loan pool on the global open market. My colleagues ask me what I think is going to happen in the near future. My answer is more loan products will be eliminated, rates will go up, house values will go down, housing inventory will go up and nobody will be able to buy a home because they cannot get a loan.What will happen in the long term? It will all turn around and things will get better! Feel my mood? – Dale Siegel