Interest rates continue to climb from where they were last week. Said to be just a temporary thing on our rate rollercoaster, they can spike down at anytime.

 

All economic and political indicators continue to predict great market fluctuations for the remainder of 2009. Until there is a definitive plan that works, we will not see any market stabilize.

 

The credit market continues to tighten as well as lending guidelines. Even the most perfect of borrowers now appear to be blemished in the eyes of the banks. Is this just an excuse not to part with the cash gifts from last week’s White House?

 

The unfortunate outcome will be a great fall in housing demand and prices as time goes by. The recovery will be long and hard for the US housing market. In a lighter note, we have dusted ourselves off and are starting fresh TODAY!

 

Dale Siegel

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