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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: UnBelievable who wrote (248076)7/2/2003 12:59:23 PM
From: Mark Adams  Read Replies (1) of 436258
 
I follow all except for the following line:

And encouraging people to refinance their house at interest rates that are not sustainable is nothing less than stealing their house.

Rates are too high, thus unsustainable? Or rates are too low, thus unsustainable? It appears to me that refinance for the home owner is a no brainer, thus my confusion.

I was pondering GM's 17B bond offering. Along with the idea that in days long gone, some companies saw debt financed at a low rate as an 'asset', which provided them competitive advantage. If rates go up, GM locks in low cost financing. If rates go down and deflation nips them, they BK. Seems like another no brainer...
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