More Mortgage Problems Loom
An analyst pointed out earlier this week that mortgage rates are not falling any more even though Treasury yields are, which presents a potential problem for the banking industry.
There is nothing new about this phenomenon, and the ramifications of very wide spreads are far more complicated than just being a drag on housing. The problem is that "too big to fail" has become "too big for their own good -- and ours." As Lord Acton observed more than a century ago: "Power tends to corrupt, and absolute power corrupts absolutely."...561 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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