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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (2033)	5/30/2000 3:12:00 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 13572

Fred, I agree with your last point. There's the potential for a spurt of "last minute" buyers trying to get in before the next hike. Additionally, teenagers are getting good wages from summer jobs, so that could add fuel to the retail sales. I heard that the durable goods might be lower due to higher rates,but you could never prove it by going into our local Home Depot's, Lowe's, etc...The lots are always jam packed. I'm in the process of selling one of my rental properties and my agent told me that it's still a "sellers market" but it may be topping out. bp

To: Stoctrash who wrote (2033)	5/30/2000 3:27:00 PM
From: IngotWeTrust	Respond to of 13572

OT: Your friend's house story...if he's looking only at 30yr mortgages maybe he doesn't want to pay up to get it. The truth is, I'd suggest your friend take a good hard look at how long he thinks he's going to live in a new house, based on how many moves he's made in the last oh, say 20 years. If it is longer than the current low rate for 5 yrs and ARM balloon, he's very short-sighted for not going ahead and buying now. Then he can always do the 8.875 thing, and re-fi, or do the 8.875 thing and do the 18 year payoff gig, or ...suggest your friend get in touch with an "creative" loan broker with many programs and away from the traditional money sources, staffed and funded by those who are stuck in one, tired way thinking of financing home mortgages. Wish him/her all the best in nailing down their dream new house from me, a total stranger! O/49r