Despite the relative stability across markets in the last week or so of August, many analysts remain on alert for additional volatility ahead.
“The credit crunch is long from over,” Powell says. “It is certainly not going to be over tomorrow, next week, or next month.”
Analysts point to a large number of adjustable rate mortgages (ARMs) here in the U.S., which are due to reset in January, February, and March 2008. If foreclosures rise quickly, it could lead to additional volatility and uncertainty for the U.S. housing market, the economy, and financial markets in the months ahead.
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