Friday, January 23, 2009

Uh Oh, The Second California Home Rush In Trouble

Paul Kedrosky points out something that will put a dent in many of the talking heads' arguments about housing picking up again in the beat down states. Seems Wells Fargo's 30 Year conforming mortgage is up something like 90+ bps from the several week ago trough of 4.7%. Can't be good. Especially knowing where 30 years Treasuries trade, and all the agency paper being bought by the Treasury with every dollar printed. Sphere: Related Content
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