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The Most Complicated Mortgage Chart You've Ever Seen

Where Will the Mortgage Rate Spike End?(CNBC) CNBC's Diana Olick takes a look at the causes and effects of rising mortgage rates. As she points out: "With 7 million borrowers either facing or already in foreclosure, big banks facing whippings in Congress and many-fold investigations over foreclosure practices, and home prices taking a turn for the worse, rising mortgage rates will only put another barrier in front of would-be buyers."

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Markets: QE2 Is Old News (CNBC) CNBC's Jeff Cox explains why global debt worries have trumped attempts at stimulus: "Problems financing debt in Ireland, Portugal and various other parts of the European Union couldn't have come at a worse time for the Fed. Chairman Ben Bernanke has led efforts to buy up Treasurys, push down interest rates and turn investors to riskier asset classes, particularly stocks." Cox explains why it no longer seems to be working— and analyzes the implications for the future.

The Most Complicated Mortgage Chart You've Ever Seen (ZeroHedge) Is your life filled with boring simplicity? Why not spice it up a bit with this brain numbingly complicated chart made buy a guy trying to figure out who really owns his mortgage. Note: ZeroHedge informs us that the author of the chart "…performs securitization audits (Reverse Engineering and Failure Analysis)…."— so explore at your own risk.

Worst Case in Europe: Nations Drop from Eurozone?(New York Times) As I pointed out in an article two days ago, the risk of a Eurozone breakup cannot entirely be ruled out. From today's New York Times: "Though only a small minority of economists predict a splintering of the euro area, a much larger group sees it as a risk — one that has contributed to volatility on bond markets in recent days and helped push the currency down." Probabilities notwithstanding: "For policy makers and many economists, the consequences of a split in the euro zone are too terrible to contemplate."