by Calculated Risk on 9/16/2012 09:55:00 PM

This could slow down the QE3 mortgage transmission mechanism, from the Financial Times: QE3 hit by mortgage processing delays

“In the very near term [QE3] has virtually no transfer mechanism whatsoever to the customer,” said one executive at a leading lender, who requested anonymity. “Originators are massively backlogged in terms of origination volumes.”
Excerpt with permission

The Asian markets are mixed tonight, with the Shanghai down 0.3% and the Hang Seng up 0.3%.

From CNBC: Pre-Market Data and Bloomberg futures: the S&P future are down almost 5 points, and the DOW futures down 32 points.

Oil prices are moving up WTI futures are at $99.00 and Brent is at $117.44 per barrel.

On Monday:
• At 8:30 AM ET, the NY Fed will release the Empire State Manufacturing Survey for September. The consensus is for a reading of minus 2.0, up from minus 5.8 in August (below zero is contraction).

Yesterday:
• Summary for Week Ending Sept 14th
• Schedule for Week of Sept 16th

Three more questions this week for the September economic prediction contest (Note: You can now use Facebook, Twitter, or OpenID to log in).