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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (12128)	9/22/2004 10:07:46 PM
From: CalculatedRisk	Respond to of 116555

Do you want a compliment for every great post<G>? I definitely noticed it and read it several times. Very well done.

To: mishedlo who wrote (12128)	9/22/2004 10:41:22 PM
From: Bill/WA	Respond to of 116555

mish, sure didn't go un-noticed here, thanks. Bill/WA

To: mishedlo who wrote (12128)	9/23/2004 8:09:07 AM
From: orkrious	Respond to of 116555

mish, that was an excellent piece. you hit the nail on the head with FNM. a trading friend asked me yesterday if the market had seen its highs for a while. I told him to look at FNM. we're all in deep shit. great work. I hope you have plenty of gold.

To: mishedlo who wrote (12128)	9/23/2004 8:28:30 AM
From: TH	Read Replies (1) \| Respond to of 116555

mish, I've said it before, you do great work and I learn a lot from you and the majority who post here. I think the central debate between you and Russ is going to get very interesting in the next 6 months. Keep up the great work and thanks for all your effort. TH

To: mishedlo who wrote (12128)	9/23/2004 1:47:42 PM
From: benwood	Read Replies (1) \| Respond to of 116555

I was behind and missed it, but went back and read it. Yes, too true about the decline in refi demand. I asked my brother if he'd seen rates declining and to see he could refi, and he said he already refied some time ago for 30 years, 5.5%, no cost or points at closing (actually they got back $500). It's a long way from where he'd benefit. I have 4.5% at 15 years, so a long way for me, too. Your point about FNM greasing the wheels is too true. I remember trying to refi (or finance) through my credit union in the 80s and in '93 when we bought our current house. My CU was uncompetitive. Now, however, they are very competitive. When I did my last refi, I asked how they could handle such huge volume for their asset level, and they said just what you did -- they just send them off to FNM. I've no doubt that if that grease were removed from the tracks, there would screech that would deafen Wall Street.