Mortgage rates: Volatile, Lock Short, Float Long
MBA reports mortgage applications up despite historic climb in mortgage rates.
Overnight foreign markets take the same tumble that US markets felt yesterday. Look for another messy trading day.
Here comes the run on hedge funds–$43 billion in September.
JPMorgan, Wells Fargo, State Street–report profits, Citigroup and Merrill Lynch show losses.
Bernanke says long recovery ahead.
Consumers skeptical of bailouts’ effectiveness.
Bottom line to all of this crazy movement and uncertainty is housing prices, which are still in a free fall with little solution in sight. In fact many of the proposals and plans moving forward are likely to intensify the downward spiral. The only one seeming to notice are homeowners. Take a look at The Big Picture–great analysis of the open “bottom” in home prices.
About Bill Rice