We know its 'early' and we should not be judging yet another QE-book by its front-running cover; but the following four charts might give all those hopeful that this time its different some pause for thought on the Fed's actions being anything other than by the banks, for the banks, and of the banks. With refi activity's burst fading, retail mortgage rates having not budged, residential delinquencies rising once again, and average 'approved mortgage loan' FICO score at 750, it would seem the Fed could throw another cajillion dollars at the banks and reserves would just inflate further (along with everything we eat, use, and need), leaving the economy muddling through at best.
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About QEternity's Mortgage-Based Housing Boost?
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