Economists are concerned that despite all of the government's efforts to put an end to the credit crisis, the nation will be unable to avoid an economic recession.
Many companies and municipalities still do not have access to the credit markets, and the price of Treasuries and mortgage-backed securities fell on Oct. 14 due to investor worries about more borrowing by the government.
Additionally, HSH Associates reported a jump in the 30-year fixed mortgage rate to 6.6 percent from 6.06 percent last week, though experts say mortgage rates could decline once Fannie Mae and Freddie Mac begin purchasing more loans and reducing fees and once banks increase lending.
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Source: New London Day (CT) (10/15/08) Bajaj, Vikas. This article is a reprint that appears on NYSAR's online news page 10/16/08 at www.nysar.com/members
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