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To: John Vosilla who wrote (956)7/9/2007 1:56:58 PM
From: $MogulRead Replies (2) | Respond to of 1718
 
Rates are going higher 6 mo. out as long as no recession. I beleive 10 Yr. wil be at 5.5-6 in 2008. Add the margin that the banks charge and Jane & Joe are paying 8-9%. The largest rate resets in history on the horizon at 30 year lows in rates, do not spell well for Jane and Joe and their dog that just bought there house on a ARM. Thus, they will be selling the dog and moving into a apartment driving rental prices up in majior metro areas.



To: John Vosilla who wrote (956)7/10/2007 8:07:05 PM
From: SouthFloridaGuyRespond to of 1718
 
John, the Fed is going to have to cut rates. This housing problem is now spreading.

Not in a hurry to buy, but in the prime areas which I am looking at, the moment homes hits my fair value target, and I found that "special" house, I am buying and won't look back.


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