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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Grandk who wrote (13708)5/12/2004 7:01:32 PM
From: yard_man  Read Replies (1) of 110194
 
I think what is important is how much has already been transacted at the currently prevailing rates and how far prices have risen --

absolute rates on an historical basis don't have much to do with it, no??

Of course there were people buying houses when mortgage rates were double digits -- but how fast was the price of a house rising then -- how large a part of ones wage on average was devoted to debt service, etc??

a potential rise in long term rates of 1 - 1.5 % pts here is huge.
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