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To: SouthFloridaGuy who wrote (877)	6/18/2007 11:11:09 AM
From: John Vosilla	Read Replies (1) \| Respond to of 1718

'10 year is far from 7% so we'll revisit when it gets there.' None of us know when the stress of rising rates goes too far. My guess it is north of 6% but below 7% only because housing overvaluation and debt levels can't handle it in the parabolic markets like yours and California.. Housing would go into a deep freeze like nothing we've ever seen IMHO.. YOu going to go shopping for a house in your area with near 8% fixed rate 30 yr mortgages and such high taxes and insurance to boot? Who is gonna qualify for PITI under tighter standards of debt/income given it was stretched to the limit a year ago with option ARM's and expectations of appreciation bailing everybody out ruling the day?