We can see from the chart below that another wave of "mortgage-rate resets" is heading for our economy. This will begin in mid-2009 and not reach it's peak until mid-2011.
This new wave of mortgage-rate re-sets will begin prior to the economy absorbing the shock of the previous 2 years. While it is impossible to predict the depth and duration the effects of this adjustment will have, there is little reason to believe that it will be a positive event. In late 2008, CBS' "60-Minutes" explored this coming event. Either click on the chart above or on the link below to view a video replay of this 60 Minutes show segment. http://www.cbsnews.com/video/watch/?id=4668112n%3fsource=search_video
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