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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (23015)	12/7/2004 4:52:32 PM
From: Wyätt Gwyön	Respond to of 110194

Recently, some builders have once again begun offering "2-1 buy-down" deals, in which they buy down the interest rate on the mortgage by two percentage points the first year and by one percentage point the next. That can help buyers purchase a house that might be otherwise outside of their price range, says John Brawner, director of the national builder division of GMAC Mortgage, a unit of General Motors Corp. "We're seeing it introduced now because not only are housing prices going up, but rates are increasing," he says. LOL, helping people buy houses they can't afford, that's real intelligent.