Investing in million dollar classic cars | The Big Picture

Macro Notes

Rates up, purchases still ok but refi?s drop
Peter Boockvar

While the move up in mortgage rates over the past week to the highest since Nov won't yet have much of an impact on home purchasers due to the still very low level, refi's have slowed. According to the weekly MBA data, refi apps fell 9.3%, down for the 5th straight week and falling to a 10 week low. Purchases were down 1% but off the highest level since Jan. Existing Home Sales out at 10am are expected to total the most amount since May '10. While there is little macro news in Europe, the Spanish 10 yr yield is...

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Source: http://www.ritholtz.com/blog/2012/03/investing-in-million-dollar-classic-cars/

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