Mortgage rates are the main culprit in the current housing crisis that has swept America by surprise leaving many people without houses and not the other way round. Many in the real estate market wish to clear this up for many are blaming them for the sub-prime credit problems which were in fact the cause of the very much unstable housing market. Forecasts of a slowing economy coupled with a rise in unemployment insurance claims have further complicated the situation preventing it from bouncing back to acceptable levels. Insurance firms are opting not to renew housing insurance due to high risks of ending up with tons of foreclosed properties that nobody wants to buy. The money market shouts “Housing Market Depression”, yet financial markets are faring worse for the US dollar is losing strength especially when the Euro is gaining ground on financial markets all over the world.