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

To: russwinter who wrote (35944)	7/14/2005 1:24:49 AM
From: John Vosilla	Respond to of 110194

"That's the problem with a flat yield curve now, there's no ultra cheap loans any more, just big and bigger (or dumb and dumber) mortgages to pay, and much larger payments." But they can keep the party going with the ridiculous 1% start pay rates for new purchases and refi's. It's obvious the inability to refinance in areas that haven't appreciated is a big reason for foreclosures being much higher there than in bubble markets. Will it take only a year of flat prices to start the downward spiral in San Diego or perhaps two or even three years?

To: russwinter who wrote (35944)	7/14/2005 12:36:00 PM
From: mishedlo	Respond to of 110194

That's over 6.0% for PRIME borrowers, and maybe loantech or somebody in the mort biz can chime in on what subprime would be paying. I can not speak for sub-prime but you are way off for prime. Mish