CD's at 6% and Mortgage Rates at 6.5%. Whats up with this picture?

As the Feds have raised rates our CD's have gone up but our Mortgage rates have risen very little. As the world crisis continues Investors put their money in bonds which our rates tie into for the market. They feel our bonds are more stable than other countries or other forms of investments. The stock market is still shaky and investors are pulling out of the real estate market. That money has to be invested elsewhere in a "safe" place. Enjoy this break but remember this cannot continue. The banks will not pay you 6% for a CD and then lend it back to you at 6.5%. As we see more cracks in our economy our bonds will appear to be not as "safe" as they thought and rates will have to go up to attract more investors. It could happen very fast so be careful. Housing prices are down big time in many areas. Enjoy this nice time to get the house you want. Get the lowest rates and fees possible.The first thing is that you need to have good credit scores. You can check your credit scores online at My Fico.Com or Equifax.
Next, you need to have some savings for a 5% or more down payment. Do you have a good way to save for a down payment? We highly recommend Emigrant Direct. They pay 5% on their savings account, with no minimums, no fees. www.rateinformer.com