There was a ton of mortgage-related news in the last week, with the most interesting being a note about the risk of foreclosure for ARMs - one in three if you have an ARM from 2004 to 2006 with a teaser rate of less than 4%! That's a little ditty that was widely ignored....
I'm back at the usual and will be watching things with far more zeal in the coming week. I believe we have to be very careful here, as we may have only another week - or perhaps two - before a major turn occurs, and it may come without much if any warning. We came very close to a signal on Wednesday on The Canary, but avoided it - and I also saw with interest that our markets totally ignored the one-day wonder activity in China late last week. This "de-coupling", if it is occurring, is actually quite ominous in terms of predictive possibilities, as it may make it much harder to spot the markers before the turn occurs here.
More as I see it during the coming week - have a profitable morning!
Where We Are, Where We're Heading (2013) - The annual 2013 Ticker
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