Housing Market Will Fall 10%-15% says Dick Bove

One out of Seven Houses in the US is empty

For the past year, the Fed has been buying mortgage-backed securities in an effort to keep mortgage rates low and provide some support to the housing market. On March 31, the Fed says, it will stop buying mortgage-backed securities. So what will happen to mortgage rates and house prices? No one knows, says Dick Bove, the wise and fearless analyst at Rochdale Securities.