Fannie and Freddie are within a week or two of a full government bailout, both stocks are plummeting this week...we are also seeing increases in "fees" coming to all mortgages which will add an average of $750 in additional closing costs to every loan on top of the other rate and fee increases we have already seen.

What really sucks is that interest rates should be a FULL 1% lower than they actually are today which would put us back in record low rate territory but the few lenders that are left have to make up all the billions in losses they have incurred this year...no better way to move all the inventory sitting around than low rates but alas I am about out of the mortgage bus and going to move into real estate full time focusing on distressed property sales/purchases and let some other schmuck deal with the loan Bullshiat...