The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Little Joe who wrote (292)	7/25/2003 1:08:00 PM
From: russwinter	Read Replies (1) of 110194

<the assumption that higher rates will kill the housing boom.. Tighter credit conditions will also add to this. Sanford Bernstein strategist Vadim Zlotnikov calculates that every half-percentage point in the 10-year TN keeps three million potential home buyers from qualifying for a mortgage on a median-priced home. Higher rates would also cut into the expected $80 billion in "consumer liquidity" expected to come from mortgage refinancing this year. The 10-year TN yield is up over a point since its low of 3.08% of last month. That's over six million buyers.

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