What's the Biggest Slowdown in Mortgage Rates?

On slide 81, in the top panel, we show real ten year yields aso the tenure nomina tredgery yeld. And historically, whenever you've seen sort of a two sigma delta break out in this, in this yield on a trailing three year basis, all hell breaks loose in the economy. The next slide shows energy crises. We're obviously very much in energy crisis. But there's really only one in out of i entire insize whic two thousand five where we had an energy crisis, and we didn't see a significant slowing acession in economy under a crash in the stock market. On side 85, we talked about this wetograters for a