February 11, 2010 Reading Time: < 1 minute
“The volume of mortgages written back then
Stunned imaginations.
In a single quarter in 2003,
A trillion in originations!
But something happened late that year
That caused long rates to rise.
And that was the end of the refi boom.
It came as quite a surprise.”

Read more here.

“The Financial Crisis, In Rhyme Form”
Karl Case
Via the Reason Foundation, February 10, 2010.
Posted by Anthony Randazzo.

Tom Duncan

Get notified of new articles from Tom Duncan and AIER.