With housing bubbles bursting everywhere, Bernanke hiking rates in hopes of the long hyped "soft landing", plummeting value of the US dollar, where are we headed? Financial gloom and doom theories for the future of the US housing market, stock market, currencies, abound. And all of this is good news in the long term for the mortgage business. The economy will be so hammered by late 2007 that the fed will actually decide to drop rates. Look for strong refinance activity in 2008, 2009.