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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Joan Osland Graffius who wrote (141919)1/7/2002 8:06:42 AM
From: Earlie  Read Replies (1) of 436258
 
Hi Joan:

I could have phrased that comment more clearly.

Long term interest rates have stubbornly refused to come down. In fact, long term interest rates are slightly higher than they were a year ago, in spite of the eleven reductions in short term rates. This bodes ill for future mortgage rates. If mortgage rates start to move up then the re-financing game could be choked off.

Best, Earlie
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