Rates are actually a bit lower than when the Fed (supposedly) stopped buying MBS. For a 30 YR Fixed, 5.00% had a cost of 1pt at the end of March.
On 4/30 5.00% was available with no points.
It was known that the Fed would stop buying MBS months ago, this was no surprise. It is surprise announcements that move markets.
An oil spill that is 5 times worse than previously dislcosed. (gives “important” people time to dump their stock) I expect price of oil to sky rocket. $4-$5 a gallon gas for the summer, how convenient. $150-$200 a barrel is not out of the question. (I hope that it deosn’t happen)
A car bomb in Times Square/Theatre District on a Saturday night, either a terrorist act OR a sick individual.
While confidence should be shaken to the core with a doubt to everything that the govt reports, many people remain oblivious and firmly believing that the “foolishness of yesteryear” will return shortly, if they just hang on to the fantasy a little longer.
