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March 09, 2007



So, when do you think the bottom is going to be, for mortgage rates?

Dick Lepre

Is is almost impossible to determine when the bottom will be because it will depend on the data and perception. When this secular bull market started I thought that it would be as early as June. At present that seems unlikely. I would revise my guess to September. I think that the two things to watch are GDP and core-CPI. It will take Fed easings and genuine belief that economic growth was slowing to incite this bull.

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