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Strategies & Market Trends : Ride the Tiger with CD

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From: John McCarthy	9/25/2007 6:08:52 PM
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Severe Edit About 5 million adjustable-rate mortgages are slated to reset to higher rates in the next 18 months, according to Lehman Brothers. Economists warn the housing slump could deepen if those homeowners are unable to refinance loans under tighter underwriting guidelines and as home values stagnate or fall. My Comment - how will they do? (same article) Some 57 percent of mortgage broker customers were unable to refinance their adjustable-rate loans to avoid higher monthly payments in August, suggesting the U.S. housing slump may worsen, according to a national survey on Tuesday. ARMs resetting in the second half of 2007 top $220 billion, with $170 billion subprime, Lehman data shows. ibtimes.com Today's WSJ Target adjusting sales forecast downward ... Lowes adjusting sales forecast downward .. regards, John

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