Sizing up housing's role in new economy

Commentary: A sideshow or headliner?

LIVE NOW: Inman Connect San Francisco
Tune-in now to catch the livestream. Don't miss this chance to see real estate leaders tackle the industry's top problems.

Just when everyone was certain that long term rates would rise, they fell.

Wednesday’s 10-year Treasury-note auction drew more bidders than any since 1994, and its yield thumped down from near 4 percent to 3.85 percent, mortgages back down to 5.125 percent. The improvement is gradually reversing, but for the moment we’re OK.

An $11.5 billion dive in consumer credit in February more than wiped out a revised gain in January, the first in 11 months. New claims for unemployment insurance were supposed to continue improvement and drop to 433,000, but instead jumped to 460,000.