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To: gc who wrote (108044)	11/6/2001 6:07:27 PM
From: Uncle Frank	Read Replies (1) \| Respond to of 152472

>> I don't see it coming. You'd have a better view if you took the high road. This isn't a good time to be rubbing salt in the wounds. Wait till the wake (conference call) is over. uf

To: gc who wrote (108044)	11/6/2001 6:23:49 PM
From: Keith Feral	Read Replies (1) \| Respond to of 152472

9 cuts have made a huge difference. My mortgage payments are down 50% this year. Further cuts in short rates will help me out even more!! You have not even given the economy any time to adjust for the benefits of these cuts. When people start to refiance their homes under 5%, the economy is going to improve. The benefits have not been seen yet becuase the long end of the yield curve was too high. Banks were basing their rates at 6.5% instead of 4.75%. With the banks reducing prime to 5% today, there is going to be a massive push for mortgage rates to fall below 6% for non-conforming and below 5% for conforming loans.