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Reply #36: And he must have known in early 2004 that interest rates would be rising sharply [View All]

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TexasLawyer

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Thu Sep-13-07 03:22 PM
Response to Reply #7

36. And he must have known in early 2004 that interest rates would be rising sharply

Edited on Thu Sep-13-07 03:27 PM by TexasLawyer

See, e.g., this Paul Krugman article that ran in The New York Times, 4.20.04. I ran out and refinanced my house (from ARM to 5% fixed rate) after I read this.

Prophetic words from Krugman's article:

Just two months ago, Mr. Greenspan went out of his way to emphasize the financial benefits of adjustable-rate, as opposed to fixed-rate, mortgages. Let's hope that not too many families regarded that as useful advice.

http://www.pkarchive.org/column/042004.html

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