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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 234.67

-1.2%

3:59 PM EST

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To: Victor Lazlo who wrote (134469)	11/9/2001 10:37:46 AM
From: Oeconomicus	Read Replies (1) of 164684

if somebody hasn't gone out and borrowed $$ or refi their mortgage by now maybe they never will Mortgage rates hadn't been coming down as fast as Fed Funds and T-bills. Earlier this year, the yield curve was still very flat from five years out too, so it wasn't just the 30-year holding higher. After 9/11, the whole curve has moved downward and I'm sure that triggered many refi applications - it did mine anyway. But the process takes time. I locked rates in early October - closing is supposed to be next Tuesday. It will really be January before the LT effect on my monthly cash flow is felt. Point is, the economic effects of any cut in rates takes time. People don't sit in front of CNBC, hear about a half-point cut and say "hey, I'm gonna go car shopping today - thanks Alan."

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