Bernanke: Housing will get worse

Mortgage market commentary

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Mortgages are in the process of breaking below the 6.75 percent-6.875 percent range, as credit-panicked money has pulled the 10-year T-note below 5 percent for the first time in six weeks.

Given a choice between the economy-predictive powers of a frightened bond market and stocks in Dow-14,000 hysterics, pick bonds.