MacroVoices #374 Chris Whalen: Are More Banks Going To Fail?
Macro Voices
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The Fed's Retrench: A Funding Opportunity Dip?
When the Fed relents and they do have to let rates go back down, you'll see mortgages eventually trace back down into the fall. But it's probably not much more than that. I think the composition of the market still will be predominantly for purchases as opposed to refinancing. And by the way, the FHA mortgages, you can assume them. So when somebody buys a house, a starter house, for example, they can actually convey the mortgage to the buyer. That's a big selling point.
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