The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: captaintime who wrote (1120)	12/6/2001 12:21:22 PM
From: Robert Douglas	Read Replies (1) of 306849

For another major wave of refinancing to occur the 30 year mortgage rate will have to be 6.25% or less; if the yield on the ten year treasury note reaches 4.10% or less we will be there. That sounds about right. The problem is that we are 100 bp away from that right now (5.1 on the ten-year) and everyone is talking like the recovery is just around the corner. We won't have a decent recovery with long rates as high as they are. It's sort of like celebrating the start of your diet by having a piece of cheesecake - self defeating.

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