Over in the banking sector, JPMorgan Chase has settled with the Feds to the tune of $13B over sales of soured mortgage backed securities that were sold by the bank during the financial crisis. JPMorgan asserts that most of the sales were originated from Washington Mutual and Bear Stearns, companies that JPMorgan acquired during the height of the Great Recession.
I will continue to recommend floating your mortgage rate, but be aware that the recent rally in Mortgage Bonds have left prices near a key technical overhead level. If there are any signs of a reversal lower, I will quickly alert you.
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