Mortgage predictions used to be a very reliable source of information for prospective home buyers who can time their purchase based on more favorable market conditions. The lower the mortgage, the better for they will retain that amount till they get fully paid. This event has long passed due the ill-advised creation of house ownership products that entailed little or no collateral that led to the market crash as the bubble busted forth taxing heavy on homeowners who couldn’t make payments. The inevitable outcome is foreclosure and with the market crash came the recession that further worsened the situation.
Too many homes, foreclosed and new lay in wait for potential buyers without anyone actually doing the buying part. The reliability of mortgage predictions can now be treated as useless at the most for the volatility of the market that changes day by day cannot offer timely data for proper predictions. The government should enforce laws that will curb such practices to avoid a recurrence of the housing market debacle that has cost so many people their homes and even their lives.