Lower interest rates needed to pick up market

December 16, 2008 12:00PM

On a recent CNBC Fast Money segment, Wall Street traders discussed how lowering mortgage interest rates could turn the housing market around. The traders argued that people are waiting to buy homes because they want lower interest rates, and until the rates drop, there won’t be any credit available to buy homes. One trader said the mortgage interest rates will fall to about 4.5 percent.


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