what would you say are the chances we see mortgage principal write-downs in 2009 or 20#0&?18230;will we see mortgage rates dip below 4.5 in 2009 or 2010?While we’ll probably see both, but I wouldn’t be surprised if a massive move to 4.5% interest rates is used as the primary policy tool. This would be easier to implement on a large scale basis than one-off write downs. |