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


To: sea_biscuit who wrote (67821)8/20/2007 1:46:49 PM
From: Broken_Clock  Read Replies (1) | Respond to of 116555
 
What good is a lower rate next month gonna do him in mid 09? he likely has a 6 month pre pay penalty to keep him from refi.



To: sea_biscuit who wrote (67821)8/20/2007 4:28:21 PM
From: mishedlo  Respond to of 116555
 
Sea Biscuit if the first adjustment period is not till August 2009, Yes, I think that is safe for rates tied to the 1 year treasury.

Anyone needing to refi now and/or has loans tied to something other than 1 yr treasuries is in trouble.

Mish