Cash held by US banks surged 8.4% to a record $981B during the week ending July 27, according to Fed data. That's more than 3x the amount held in July of 2008. What does that tell you about where banks, and individuals, are putting their money?
There's plenty of money out there...now if we could just get the underwriting guidelines back to some semblance of reality we just might see some of it result in an actual home loan....
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