Conditions in the global financial markets have changed significantly in recent weeks.
Credit is going to be a lot more difficult obtain - all borrowers should be mindful of this, particularly those that are planning on refinancing ARMs.
There are quite a few telling signs that should be raising the concerns of those inside the industry and market regulators alike:
Hedge funds collapsing - The test was a big "If" - and hedge funds failed
Run on the bank in the UK - Chancellor steps in to halt bank run
Central Banks adding excess liquidity to markets around the globe - Fed, ECB inject liquidity as foreclosures rise
Credit spreads widening - Wall Street Credit Costs Soar on Spread to U.S. Rates
Greenspan pointing the finger of blame - Greenspan alert on US house prices
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