This should be good news for the U.S. mortgage market. If we strung a few months together like last month (September), the real estate market would be in trouble.
Leading U.S. banks have reportedly been meeting with U.S. Treasury officials about creating an up-to-$100-billion fund to stave off the danger that there could be a fire sale of shaky mortgage-backed securities, collateralized debt obligations and other distressed assets following the recent global credit crunch.
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