Hi Zapp,Dont think for a second that rates in the US for...

Hi Zapp,

Dont think for a second that rates in the US for mortgages are coming down. Yes, the fed funds rate is being lowered, BUT the mortgage rates are only slighly off there highs. And lately they have been creeping UP not down. This is the point that a lot of people miss - even if the Reserve bank here were to lower rates, there is absolutely no gaurantee that banks will or should follow. Overseas rates that they borrow from is there new master. Watch for the surprise on the faces of the sssllooowwww public when they learn that. The poor banks will cop an ear bashing then LOL. I think that a lot of people are still missing the main point of this credit crisis. When liars lend to liars its no wonder that there is no confidence out there - and nothing will change this except a few big bank hits ala Bear stearns.