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The Feds have cut the interest rate 1/2 percent, and this is meant to save people from forclosure.

http://money.cnn.com/2007/09/18/news/economy/fed_rates/index.htm?cnn=yes

I don't think people are going into forclosure because their ARM shot up a half percent...

I obviously don't really understand these things....

"Pretending that you already know the answer when you don't is not actually very helpful." ~Migeru.

by poemless on Tue Sep 18th, 2007 at 02:53:25 PM EST
Well, a half percent per year on $120,000 is $50 per month. That can be the straw that broke the camel's back.

Oye, vatos, dees English sink todos mi ships, chinga sus madres, so escuche: el fleet es ahora refloated, OK? — The War Nerd
by Migeru (migeru at eurotrib dot com) on Tue Sep 18th, 2007 at 03:17:26 PM EST
[ Parent ]
euro at $1.3970
oil at $81.90
dow up 2.5%

one thing is clear: the dollar is going down...

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Tue Sep 18th, 2007 at 03:23:15 PM EST
[ Parent ]
How many times do I have to ask that the $ exchange rate not be posted?

That´s bad for my health, so I keep my head in the sand. (:

Our knowledge has surpassed our wisdom. -Charu Saxena.

by metavision on Tue Sep 18th, 2007 at 04:24:27 PM EST
[ Parent ]
emailed you

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Tue Sep 18th, 2007 at 04:50:12 PM EST
[ Parent ]

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