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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: John Vosilla who wrote (75314)12/12/2006 11:49:41 AM
From: Ncohrnt  Read Replies (1) of 110194
 
On the flip side if we get much lower rates (with liberal use of 1% ARM's and 4% fixed for 30 years) it probably wouldn't be as bad as 1 in 40.

Which goes back to the point Mish makes about money and credit not going where you'd like it. If I'm a bank or some kind of money lender, my last property-secured loan gets issued 31 Dec 2006, and I start looking for safer bets.

Actually, that could force a new quasi-governmental corporation - the American Defense of Home Ownership Corporation...AD-HOC. It'd be a safety net for all the ARM victims of the past 5 years, offering low fixed rates, etc.
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