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Politics : PRESIDENT GEORGE W. BUSH
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To: jlallen who wrote (576376)5/18/2004 12:40:18 PM
From: DuckTapeSunroof  Read Replies (1) of 769670
 
JL:

'so far the rising rates have not affected demand for new loans....'

>>> I agree.

'historically the prevailing rates are still very reasonable...'

>>> Agree again.

'I don't expect to see much of a difference in activity level until we are significantly higher...especially in new home sales....'

>>> Don't 100% agree here. Believe much of the demand has been satisfied over the last few years.

>>> What I was talking about though, was the extra money that gets pulled out of people's pockets (who are holders of ARMs) when the rates ratchet up.
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