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To: NOW who wrote (50290)	8/16/2002 12:10:57 PM
From: patron_anejo_por_favor	Read Replies (3) \| Respond to of 209892

Doubt it, but that's what makes a market. Spreads are widening, and that will blunt the effect. Besides, any further incremental drop in mortgages will be so small that reduction in payments (from refinancing) we'll be largely consumed by fees, therefore no coin in JqP's empty bank account. It may help prop up new home sales a bit, though...but I doubt rates stay here for long due to massive supply coming on board from the Fed spending deficits.