Topic: Growth Stocks

The Wall Street Stock Forecaster Hotline – Friday, March 16, 2007

Article Excerpt

WASHINGTON MUTUAL INC. $39.88, New York symbol WM, fell 5% on news that delinquencies among subprime borrowers rose to a four-year high. These borrowers have below-average to poor credit ratings. In the past few years, however, relatively low interest rates and rising real estate values have helped keep their default rates down. Subprime borrowers often choose adjustable rate mortgages, which are more likely to go into default than fixed-rate mortgages when interest rates are rising. However, subprime mortgages accounted for just 8% of Washington Mutual’s total loans in 2006. The company limits its exposure to this segment by selling subprime loans to third parties. Higher credit losses will probably weigh on Washington Mutual’s growth in 2007. But the company’s expansion into higher margin loans, such as credit cards, should help offset lower profits from mortgages. Washington Mutual is still a buy. MOODY’S CORP. $63.20, New York symbol MCO, also lost ground recently on fears of growing loan defaults. Lower demand for securities backed by…

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real estate, procter gamble, new york, inc, ford motor co, financial planning, procter & gamble, cash flow, baxter international, margin, option, writedown, mortgages.

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