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Pastimes : Ask Mohan about the Market
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To: Zeev Hed who wrote (10359)12/6/1997 1:58:00 PM
From: Bonnie Bear  Read Replies (2) of 18056
 
Zeev: interest rates have gone down but mortgage rates are virtually unchanged, the banks are pocketing the spread or charging 3 points or more for consumers to get those rates. This is part of their justification for their p/es of 20 or higher. mortgage interest rates were much cheaper in 1993.
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