Think the government will start divesting illiquid mortgages?
It seems unlikely with home prices still falling.
Breakfast With Dave: We had mentioned yesterday that there was something fishy about the seasonal adjustment in that Case-Shiller home price index for January — especially since LoanPerformance flagged a price decline. The Federal Housing Finance Agency (FHFA) index just came out and showed a whopper of a slide, falling 1.6% — steepest decline since November 2008 — and the data is seasonally adjusted.
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See Also:
- Rosenberg: Forget The "Flat" Pending Home Sales Number, Here’s The Real Disaster
- Rosenberg: Even With The Government Throwing Money At The Problem, Home Sales Collapse
- How A Relentless Attorney Finally Got Wells Fargo To Modify His Client’s Mortgage — And How You Can, Too