Monday, January 21, 2008
This is shaping up as a housing armageddon — Will Gordon bail out homeowners the way he did with NR?
"Cash-strapped borrowers are struggling to pay off their home loans" Ooooops! "Half a million cash-strapped homeowners have missed a monthly repayment on their mortgage in the past six months. Despite the Bank of England’s quarter point cut in interest rates in December, many homeowners are still struggling. Some mortgage rates have in fact increased since December’s cut. The average fixed-rate deal has risen from 7.30 to 7.31%". Folks, do you remember? just 18 months ago davidsmut and other pundits said we entered a 'new era' of never-rising interest rates, between 3 and 5% forever and ever and ever. MWAU HAHA HHAH HAAHA HAHA HAHAHHAH