tag:blogger.com,1999:blog-6616959642391988608.post2261120307289335657..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Window closing on sub-5% mortgagesScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6616959642391988608.post-57037238562264407462009-01-30T08:36:00.000-08:002009-01-30T08:36:00.000-08:00I've always believed that the Fed had no ability t...I've always believed that the Fed had no ability to directly control long-term interest rates. Indirectly, yes, by pursuing good policies (for lower rates) or bad policies (for higher rates). Overtly easy monetary policy may fool the market for awhile, but not for long. Already we are seeing a steeper yield curve, as long rates rise much more than short rates. In the final analysis I don't think Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-31657307244984710052009-01-30T08:19:00.000-08:002009-01-30T08:19:00.000-08:00Greetings, Scott. Is this an example of the gove...Greetings, Scott. Is this an example of the government's inability to control long-term rates? Presumably, a component of the TARP intervention was to artificially lower mortgage rates (specifically, 30-year) in order to stimulate real estate activity. Are there other methods the administration might try, or are they fighting an uphill battle against real-world market forces?Anonymousnoreply@blogger.com