Still not enough. Stock futures are limit down already this evening.
The Fed is buying $200 billion in mortgage-backed securities to keep the housing market from collapsing. Every non-bank lender out there -- Quicken Loans, Lending Tree, Freedom Mortgage -- are going to slapdash loan apps through as fast as possible without too much concern for standards, signing agent safety, or public health in a middle of a pandemic. Last chance to feed at the trough before the liquidity cascade leads to a collapse of the U.S. financial system.
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