The debate about government’s role in the mortgage biz continues. President Obama has concluded that the government will have to play a major role in the mortgage market going forward. Fannie and Freddie would probably be preserved under the White House plan although with different names and under different constraints, operating more as utilities. And [...]

This Economist photo sums up the mood in Washington well, and the article sums up the debt debate well.

Sunday I noted that rates may rise slightly this week as a U.S. debt ceiling deal comes closer, and today’s links are on this theme. I don’t see a spike since economic data aren’t likely to show meaningful recovery, but mortgage bonds will likely lose ground as stocks rally on optimism about a fiscal deal [...]

Rates were down slightly last week but there’s reason for caution coming into this week: there’s no deal yet on U.S. budget proposals and until there’s a budget agreement, the U.S. debt ceiling won’t be raised.

We’re in the final countdown for a debt ceiling deal. Beltway pressures are high as politicians passionately belt out their tax hike budget cut lyrics to excitable constituents. So this installment of bTunes is The Final Countdown from cheese metal gods Europe. Because if we can’t agree on America’s budget war, we can agree that [...]

I am smart enough to realize that I am not smart enough to know, “Why the focus is more on the debt ceiling than on actually reducing our deficit?” To me, it seems like an artificial waste of time and energy—raising the debt ceiling has happened 10 times since 2001, and our government spends a [...]

Dealbreaker wins best headline in today’s links for the Curb Your Enthusiasm reference. First two links have rate outlooks. StockSage’s rate comments are on his first chart.

Today is a proud and emotional day. I salute the families of 9/11 victims, our military, first responders, and our commander in chief for living and dying by the American way of life.

Today links include more consumer-focused interpretations of the Fed’s new risk retention rules for mortgage securitization. If you only read one link today, read Kid Dynamite on the topic.

Awhile back I wrote that if Barry Ritholtz was a rapper, he’d be Gift of Gab from Blackalicious. His retort was that he’s all 3 Beastie Boys. I can dig that: the dude’s “got more stories than JD’s got Salinger.” So kicking off today with an inflation story originated on his blog—context for today’s PPI [...]