« The Fed's Quantitative Easing Strategy - Part II | Main | Funny Things Happen When You Create Money Out of Thin Air. »

May 27, 2009

Comments

eric

Thanks AC. Not sure where he's getting the 6.52% mtg rate...my boys have it between 5.25 and 5.375. Of course in the out months, July and August it should be in the high 5's based on yesterday's closes. Of course we could be at 6.50% in a week if this keeps up!

A C Shareholder

BTW Eric, Karl Denniger posted this off the E-Rates website today.

http://market-ticker.denninger.net/uploads/rates.png

It shows that the real-time rate for a 30 year mortgage and you read that right going from 5.08 to 6.52. This is the market taking a HUGE dump. Bernake and the Brew Crew are done. Nice job for two months but the market done found you.

A C Shareholder

Eric,

Out of everything that's going on right now, I would put this up at the top of the "Oh sh*t list." I do not understand this market, I do not understand the psychology, but I am staring into the abyss with what's happening in the Treasury market. Since they are effectively the only thing available in my 401K, I moved some money into TIPS. If Helicopter Ben wants to re-inflate who am I to argue.

"Sometimes that light at the end of the tunnel is an oncoming train."

The comments to this entry are closed.