I know I missed a slew of bank closings while I was off line Saturday. Will pick up on them later.
So much stuff is happening -- Greece, U.S. rating agencies apparently "selling" AAA bond ratings to folks like Goldman, etc.
It seems about 93% of those AAA mortgage derivative bonds are now rated as JUNK. Either those folks are STUPID or, they are corrupt. As has been said before -- hoocouldanode?
Cost of borrowing for Greece now over 9% -- not the kind of stuff for widows and orphans.
More to come through the day.
Wednesday: Mortgage Applications
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[image: Mortgage Rates] Note: Mortgage rates are from MortgageNewsDaily.com
and are for top tier scenarios.
Wednesday:
• At 7:00 AM ET, The Mortgage Banker...
2 hours ago
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