The thorny issues of mortgage credit and liquidity continue to partially paralyze the mortgage market. Before any improvements can take place in backed-up mortgage credit streams, things need to at least stop getting worse, and the market needs to find a stable place to stand. The market is still quite edgy, but if the last week or so is any indication, we may be holding onto a platform for the moment. How shaky that platform is remains to be seen. If you've not yet seen our thumbnail sketch of the mortgage liquidity crunch, here's a good opportunity to do so.
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