MBS- FNMA 4.5 price: 102-04 closed.

10-yr Treasury Yield: 3.28% closed.

While the news today seemed dominated by Obama’s anticipated speech and some useless story about a golfer’s private life I did find this article to offer at least an interesting contrast to my own perception of “crazy” in our real estate market.  Here is a teaser, just follow the link to read the article:

“The national real estate market has been likened to a roller coaster from hell, strapping down its riders with a vice-like grip, rising and then plunging with sickening speed.

Not all riders sit quietly in their seats. In fact, the craziness of the market over the past few years seems to have unlocked that craziness inherent in all human beings, that which under normal conditions stays nicely hidden from view.”  Continue to article…