Was the fourth quarter a good one for residential lenders? It all depends on the firm and where they are located (and lend). Cherry Creek Mortgage of Greenwood Village, Colo., had a blow-out quarter: $773 million in residential fundings compared to $431 million in the year ago period. Meanwhile, the yield on the 10-year has been slipping a bit this week, which means, perhaps, mortgage rates will not increase all that much in the months ahead. Keep your fingers crossed. Meanwhile, President Obama said this morning he will ask Congress to bar banks from proprietary trading or from owning, investing in or sponsoring hedge funds or private equity funds. Sounds a bit like he wants to re-erect the Glass-Steagall Act...
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