US Economic weakness

Things are not looking good for the US housing industry.

The fallout from the recent bond massacre means that mortgage rates are going up.

And the amount of mortgages that are foreclosing is increasing - and that was before the recent bond massacre.

So, on the one hand, you have a situation that has forced up interest rates. On the other, you have a housing market that is already beginning to implode from a popped investment bubble. Result...?