Freddie Mac Home Price Index Declines 0.4% In Q4 Despite All-Time Low Mortgage Rates And Homebuyer Tax Credit

Tyler Durden's picture

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Ripped Chunk's picture

 "Despite All-Time Low Mortgage Rates And Homebuyer Tax Credit"

Pointing to something? Lack of demand fueled by doubts about the future?  Of course new school mortgage biz requires that you have a job to get a loan now. Crazy!


Postal's picture

Yes, well, I have a job and a VA loan waiting in the wings; however, with all the fine print and headaches, why should I buy anything? Better to rent, buy silver (can't afford gold), and stock up on food. :)

Ripped Chunk's picture

Or wait until home prices fall further................

If its a fixed rate, why worry?  All the fine print concerns what they will do to you if you don't keep making the payments.

Postal's picture

Ah, but that's the rub: Given the state of the world economy, I'm currently not confident of my ability to make 30yrs of payments (actually, I'd pay it off faster, but you get my point).

So I'm back to my original query: Why should I buy anything if doing so means I'm going to be tied to the deck railing of the Titanic? I'm not expecting to wade onto the sea and stay dry, but until I see stronger life-raft preparations, I'm staying put on dry land.

Ripped Chunk's picture

Meanwhile, I am buying every aqualung I can find...............

ghostfaceinvestah's picture

How many more days of Fed MBS buying now?

At least round 1.

Just wait until you see the fireworks when that stops.

KidHorn's picture

It won't stop. The Fed has backed itself into a corner just like Japan a decade ago. They have to keep QE, Zirp and everything else going or else everything falls apart.

SDRII's picture

any thoughts on how this FDIC backed mortgage bonds will play in the market - seems rather small $1.8B overall, but the timing coming right at the end of the Fed purchasing...

Jeff Lebowski's picture

And up goes the market...

I should have gone to the casino instead of shorting the market.


Mark it zero, Dude.

hedgeless_horseman's picture

Ha ha! You fool! You fell victim to one of the classic blunders - The most famous of which is "never LOAN MONEY TO GREEKS" - but only slightly less well-known is this: "Never go against THE BEARD when death is on the line"! Ha ha ha ha ha ha ha! Ha ha ha ha ha ha ha! Ha ha ha...

Anonymous's picture

Yes, princess; especially since he who sees no bubbles believes that when he needs that little extra to put us over the top, he can just dial it to eleven.

MatrixSurfer's picture

Yes, princess; especially since he who sees no bubbles believes that when he needs that little extra to put us over the top, he can just dial it to eleven.

jc125d's picture

And I'm free, free fallin'
Yeah, I'm free, free fallin'...

Cut the crap Freddie.

Dixie Normous's picture

All the tax credits and low interest loans will not hide property tax increases, especially in states where there is no appraisal adjustment based on sales.

Anonymous's picture

oh it was the snow..

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