Industry NewsMortgage

Bailout incites ‘grassroots rage’

Commentary: A mismatch of politics and economics
Published on Sep 26, 2008

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by CareyBot

Mortgage rates are unchanged, about 6.125 percent, just one aspect of completely frozen credit markets, hostage to a political moment without parallel.

The real economy is tipping over: New claims for unemployment insurance last week jumped to 493,000 from the 450,000 range. Orders for durable goods in August plunged 4.5 percent, double the forecast decline, and sales of new homes free-fell 11 percent.

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