Have the Fed Financing Bank fund the agencies with fixed rate amortizing term funding. Have the FFB eat the convexity and allow prepayments of advances
Seems the fall off after the tax credit ended April 30th has yet to fully run its course: US Mortgage Applications Soar on Refinance Demand
[Skip to the end] (An email exchange) On Wed, Jun 4, 2008 at 12:57 AM, Eric wrote: >    I guess you have seen this article.
U.K. Mortgage Approvals Drop to Least Since 1999 By Jennifer Ryan (Bloomberg) U.K. mortgage approvals dropped in December to the lowest in at least nine
(an interoffice email) > … He’s here w/me now & also is very concerned over the entire > spectrum, especially all the 5/1 ARM’s &