[zek157]

Bean,

Since these are Prime notes I suspect most of the notes have fairly good rates already? Rates between 2004-2006 were in the 5 3/8 - 6% range most of the time? 5 1/4 wouldn’t have much impact?

[Bean Counter]

Good point, but where’s the data? If there were that many people in stable 30 year 5%-6% mortgages, would we be expecting over 2 million foreclosures by the end of this year??