Interesting article about rates

[meatpile]

Everybody's been benefitting from low mortgage rates. When I bought my house in July 2000, the rate ( jumbo ) was over 8.5%. I refied first to a 6.5% 5 year ARM, then to a 6.5 % fixed ( b/c rates will never go lower :newsmile54: ), and ultimately to a 10 year IO ARM at 5.125%.

Needless to say, a 10 year IO ARM is about 1/2 the cost of a Fixed 8.5%. That's alot of free money.

Anyway, this article taught me stuff, hope ya'll like it.

http://biz.yahoo.com/brn/061116/20227.html

[meatpile]

New housing starts plunged to the lowest level since July 2000.

I have a friend who moved here from Orlando. He moved back today because he could not sell his house.

[Shrapnel]

When's the interesting stuff gonna show up?

[slydevl]

I'll have Hot and Sour Soup and Spring Roll instead of Egg roll

[meatpile]

When's the interesting stuff gonna show up?

Anytime now. Just keep waiting.