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Frank Pembleton

10/17/02 10:15 AM

#399 RE: KastelCo #398

I think the last paragraph is the most important...

The housing market stood up well in the U.S. economic downturn and through the slow recovery, producing record levels of sales and mortgage lending as interest rates on the popular 30-year fixed-rate mortgage scraped lows unseen since the mid-1960s.

Is it sustainable?

Regards,
Michael