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  • Last week's big decline in mortgage applications was all about refinancing as the hiccup in interest rates slowed business. The overall decline of 7.9% was led by a 9% drop in the refi index, which fell to its lowest level since early July. Strangely, the mortgage REITs are lit up bright red today. Aren't prepayments a key leg of the bear case against them?  [View news story]
    See WSJ page A2 article on Fannie Freddie regs "make short sales of underwater homes easier for homeowners ..... (that ) haven't missed mortgage payments" . Potential to increase prepay rate.
    Aug 22, 2012. 11:43 AM | Likes Like |Link to Comment
  • More than the entirety of the S&P 500's capital gain since 1932 has come during the 7 days surrounding the end/start of the month, writes Eddy Elfenbein. "If you slice and dice any data long enough, you're bound to find some anomaly," he quickly adds, not positive there's a tradable angle here.   [View news story]
    Seven days before and seven days after, sounds like a modified rhythm method for investing.
    May 1, 2012. 01:13 PM | 1 Like Like |Link to Comment
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