Mike’s Real Estate Show

I reccomend Lou Barnes as one of our radio show commentators for his sharp wit and dead-on takes of the mortage market. You can read his column by going to the following link and signing up for his weekly commentary: http://www.boulderwest.com/news/ Here is his take on this big gap:

“The spread between government guaranteed (or effectively so) mortgage-backed securities and 10-year Treasurys reach an all-time, utterly non-economic 3.00%. The spread between AAA-rated municipal bonds and Treasurys is out of linie by 2.00%. These and other cedit markets this week for teh most part ceased to function, the capital in teh banking system effectively exhausted. Scott Simon of bond-giant Pimco, a calm sort whose remarks are usually limited to time and temperature, said, “Everything is tell you that the financial system is broken.”  Not very confident words huh? If you read the rest of the column you’ll also hear comments from others in the know about the remedies to our financial, credit, mortage problems.