Buying mortgage backed securities is Boomer Stimulus

Buying mortgage backed securities is Boomer Stimulus

It is actively working against the interests of first time homebuyers, who increasingly cannot transact at today’s home prices. Low mortgage rates are good, but not when they foster an environment in which corporate buyers and the already wealthy can borrow endlessly and drive up the prices of everything on the market. I’m starting to think there may be no better form of stimulus for the rest of America than for the Fed to withdraw from the mortgage bond buying they’ve been doing. Taper the mortgage bond purchases. I talk about this at the ten minute mark below:Read also:Fed mortgage securities purchases draw fire in white-hot US housing market (SPGlobal)

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