Mortgage Market Update for 2/14/2011
By RJ Baxter, 303-670-0137
(Fairway Independent Mortgage Corporation)
Last Week in Review, by Lou Barnes, RateWatch Economic optimists remain firmly in charge of markets and the media, and the search for data to support their view. --- Wait! A Not-News flash! The administration has at last released its Fannie-Freddie study, which contains three plans that will not be enacted. Nor will any until housing and the financial system recover, which they may or may not given current underwriting. Home mortgages total more than the national debt, and we don't know what to do with that, either. Bi-partisan criticism of the GSEs will continue, as Fannie and Freddie are no longer sources of campaign cash. Back to actual news --- The optimists found some supporting evidence, but too close to the broad baseline of wobbles to confirm a self-sustaining recovery....