credit market condition as of 12 06 2007

--credit markets have tightened sharply. Since Oct. 31, the yields on securities backed by auto loans has jumped to 6.3% from 5.4%, while yields on securities backed by home-equity loans have jumped to 7.7% from 6.6%, according to J.P. Morgan Chase & Co. --Rates on "jumbo" mortgages -- those larger than $417,000 -- are around 6.9%, up from 6.6%. --The London interbank offered rate, the rate banks charge each other for three-month loans in the offshore market -- is a whopping full percentage point above the expected federal- funds rate; it is typically less than a tenth of a point higher.