Arraya I know I have been watching it like a hawk.
PR I read caculated risk. Last week I posted a somewhat pertinent post “SD Realtor eats crow” where I in not such a clear way voiced my concern that the 10 yr yield was not as correlated to long term mortgages anymore because of the secondary market. Still though I did speak to a very close broker friend of mine and she did say that for very solid loans, under the conforming limit, very high credit score, full doc, strong ratios, etc… the rates have indeed dropped. I confirmed this with another broker. Still I kind of think they are blowing smoke.
The flight to quality though is quite interesting. No I would not call it a bond rally but man… it has been quite a little notch.
