[quote=Doooh]2008 and 2009 were some the years of exotic financing. If the interest rate increase there was a new way to finance right around the corner, ie 105% financing or interest only or Neg Am or….
I’m not a Mortgage finance guy, but I think those days are behind us. The typical ways to get easy money in the form of a mortgage are gone. Cold hard downpayment are the norm again. Interest rates matter a lot more in today environment.[/quote]
Are you sure about that? IO/NegAm stuff were big around 2005-2006, but 2008/2009? I remember 2008-2009, people were talking about the ARM tsunami. Why would there be a tsunami if IO/NegAm was still widespread? If you think this 1% rise will make a big difference, lets just wait another 3 months and see if it will or not.
