Would The Fed Help A Homeowner?
November 2nd, 2007
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If you’ve been watching Wall Street for the past few weeks it has been difficult to ignore the elevator-like movements of the market.
Yesterday, Thursday, was a real study. Just read what the Washington Post had to say:
“The declines were sharp enough to trigger automatic trading curbs at the New York Stock Exchange, designed to limit wild market swings. The Federal Reserve added $41 billion to the financial system to help keep it operating smoothly, making it the biggest injection of funds since Sept. 11, 2001, attacks.”
It’s just a guess, but how many times do you think there have been automatic trading curbs when the market rises? How often do you think the Federal Reserve has increased the money supply to help homeowners?
If you’re interested in a reverse mortgage, consider something with a fixed rate to avoid the marketplace ups-and-downs which are part of life. And shop around so you have leverage.
You can see the full Post story at:
Stocks Tumble As Investors Get Bad News On Citigroup
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