Rightnow, it does not affect on mortgage... Housing market would be worsen until 2009...unless and until U.S $ become strong/economy.... people do not buy house because dollar value /economy is worst...
Is there any way the market today can affect the mortgage rates?
Sure. If the market is seen as strong, the fed can raise rates to curtail speculation. If the market is perceived as weak, the fed can lower rates to stimulate investment. If the market is just right, the fed will do nothing.
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