t bonds ready to go......
#21
Posted 11 June 2007 - 11:51 AM
#22
Posted 11 June 2007 - 01:36 PM
As for refinancing into fixed rates... most of the people who took out arms will not be able to get a fixed rate mortgage to save their lives as the lending standards tighten and rates rise. Most of those people shouldn't have been given any mortgage in the first place.
OK, I've heard this a lot. I know that a lot of loose lending has taken place. What I don't hear is any hard research supporting the assertion that "MOST" ARM holders shouldn't have been given the loan in the first place. It seems to me to be the lynch pin of most doom and gloomers' cases, yet I never, ever see it substantiated by hard data.
Have you got any or am I asking a rude question?
M
OEXCHAOS,
I've actually read somewhere that a lot of the people who were given arms could have been approved for fixed rate, but were screwed by their brokers.
Best,
LB
I've heard of that too. That's about as crummy as you get.
Mark
Mark S Young
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#23
Posted 11 June 2007 - 03:32 PM
Volcker started cutting interest rates in April 80. He put off the inflation fight till after the election.
As a result, rates on T-bills fell by 600 basis points going into the fall and the equity market rallied.
Good data..clears up nonsense generalizations made