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Non-Tech : The Woodshed

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To: jrhana who wrote (5988)	5/5/2004 2:12:12 PM
From: morokko65	Read Replies (1) of 60924

Look at that $TNX spiking... Real Estate party ending? Most of the mortgage apps I'm seeing here in Nor Cal are 90% LTV, 1 year ARMs, interest only. The starter home price has jumped from $450K to $600-625K in 15 months (East Bay Region, higher in San Mateo/SJ/SF/Marin) Many 100% loans or 80% first mortgages & 10-20% seconds at time of purchase... watch MBI for weakness, they insure all this garbage against default. that will be the RE canary.

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