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Open original source ↗As I like to say, "Never take your interest rate advice from real estate people.”
They only know one thing … rates HAVE TO go lower, and the appropriate rate is 0% to 1%.
Oh yeah, the President is a real estate guy. Remind me what he thinks about interest rates???
If you think I'm being hard on real estate people, please look up how it worked out for them in 2008.
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NEW: America's largest mortgage lender made a giant $27.5 billion bet that interest rates would go down. The bet failed. Last week $UWMC suspended its dividend and signed an emergency rescue with the distressed situations desk at Oaktree. https://t.co/ODOv2bOyIn
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