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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Secret_Agent_Man who wrote (257609)8/25/2003 8:05:52 PM
From: Haim R. Branisteanu  Read Replies (1) of 436258
 
Wonder how they will now calculate the "rent equivalent" in the CPI as interest rates rose over 1% and house prices are up 4%.

Further keep in mind that all those homes were financed at 80% LTV there is no question that home prices fell since June. (some under FNM guidlines even 95% to 98% LTV )
fanniemae.com

A drop of 5% bring the LTV up 7.5% but a 10% in prices which will reflect the rise in mortgage rates will bring the LTV to 89% which will force lender to set aside a general reserve of about 10% of the mortgage ....... this will result in a credit crunch ...... less money to the real economy
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