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basserdan

05/15/05 1:29 PM

#391765 RE: Joe Stocks #391764

Two interesting statistics from Bill Fleckenstein.

1.) In 2001 only 2% of new mortgages in California were Interest-Only. In 2004 this rose to 49%.

2.) In 2004 proceeds from Cash-out refinancing, and Home-equity line-of-credit, accounted for 77% of total U.S. consumption.

http://www.siliconinvestor.com/readmsg.aspx?msgid=21323364
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choad

05/16/05 12:47 AM

#391828 RE: Joe Stocks #391764

Joe, What were the fixed and arm rates when AG made that statement and what are they today? That just may be quite revealing... just a hunch.
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qwave

05/16/05 8:54 AM

#391878 RE: Joe Stocks #391764

I agree. Greenspan is trying to keep banks afloat. Lead JP6 to slaughter. Screw'm. -Q