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Pastimes : All Clowns Must Be Destroyed
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To: Secret_Agent_Man who wrote (32823)5/12/2000 6:38:00 PM
From: patron_anejo_por_favor  Read Replies (1) of 42523
 
Higher mortgage rates represent yet another liquidity drain, as new homebuyers with higher payments have less money to buy, say, YHOO or MSTR. Also, existing homebuyers with ARM's will start paying more...and more...and more as rates ramp. It also will lead to more defaults, put more stres on the derivative market. Where will it all end?

BTW, I shorted CMB today.
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