March Madness

Not just for Basketball anymore.  The Fed keeps lowering the prime rate but it doesn't seem to transition to mortgage rates.  This allows business to buy money cheaper, not the consumer.  There is talk of more mortgage bailouts but thus far these bailouts seem to be aimed at lenders like Countrywide and secondary market buyer's like Bear Stearns.  It is my belief that our Economic faith has been undermined by these actions.  Yes, the limits for conforming loans has been officially raised to $729,750 as part of the stimulus package passed by Congress, but once again, it's allowing buyers to spend more than they probably should.  Seems like predatory lending continues unabated.  This is strictly my opinion.