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To: kapkan4u who wrote (65328)12/10/2001 10:22:42 AM
From: PetzRead Replies (1) of 275872
 
Kap, one thing I certainly agree with in your economic forecast is that the yield bump in 10 yr. treasuries, and the fixed mortgage rates offered by the banks, is huge based on zero evidence of any overall pickup.

I walked in to my bank to refinance my adjustable rate mortage and was discouraged by the high rates. They did have a pretty awesome PRIME-0.5% adjustable mortage with a lower limit of 5% (else it would be now at 4.5%!) There's basically no upper limit (18%), no fees whatsoveer either. So, given that the Fed will lower rates again this week (0.25% in my opinion), the Fed would have to raise rates 3 times before the mortgage would go above 5%.

Petz
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