Fisher
DP Veteran
- Joined
- Sep 18, 2012
- Messages
- 17,002
- Reaction score
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- Gender
- Male
- Political Leaning
- Very Liberal
What I was suggesting I think would essentially take that power out of the hands of the Feds. Maybe they can control how much money they lend out to banks and thus indirectly control interest rates, but I was proposing what I thought would be a built in mechanism for allowing interest rates to be anti-cyclical according to what the market needs. At the very least, it would provide the Fed with additional data on whats going on in the lending market.
When it comes to the real estate market, the feds know very well what is going on. In fact, their underwriting requirements on the Making Homes Affordable or whatever it is called conflicts with my state real estate law under a very specific set of facts which convolutes transactions when those facts are present in order to comply with the fed requirements and the state case law.