30 Year Mortgage Rates Drop to All Time Low of 4.60%
Not even record low mortgage rates are incentivizing consumers from taking the home owner plunge. Wasn't it Manifest Destiny to own your own home?
This is Ben Bernanke's worst nightmare. What a complete disaster. Treasury yields hitting new lows. Mortgage rates hitting new lows yet no private end user loan demand. In the face of this outright deflationary backdrop, risk assets have no where to go but down and this means the Fed will need to start printing very soon.
Here comes QE 2.0 to the tune of $4.5-5 Trillion.
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