See Mr Mortgage’s latest blog entries. Alt A and HELOC’s look to be cracking now. Also, there’s a good chance a lot of shadow inventory will hit the market in “bulk assets” sales. Then just throw in seasonal slow-down. So the odds are good it’s coming down more. I bet it aint the bottom, by a long shot. Lenders wont lend to people with more than two mortgages now, so the investor that wants to buy and rent out the unit is a little stuck.

I guess the one saving grace is this new FHA loan that goes to $625K, 3% down, 680 FICO, std. 30 fixed rate with 1.5 point up front for insurance.
But they may be countered by the tax refief act.