Housing Slowdown Could Spell Trouble
Oh, yes...it could. For a lot of folks with interest-only and variable-rate loans.

WASHINGTON - The nation's red-hot housing market may finally be nearing its peak, meaning the end of double-digit annual percentage price gains for homeowners and potential trouble for more recent purchasers who stretched to buy... In July, sales of existing homes fell by 2.6 percent even though the nationwide median price rose to a record $218,000. Homes in some areas are staying on the market longer before they sell and the Mortgage Bankers Association reports that its index of demand for home mortgages now stands 11 percent below a June peak.