Surprise surprise… Mortgage credit conditions are at their tightest levels in 6 years.

“Don’t Fight the Fed?” Fed’s Assets in Week 13 Since Peak QE

Total assets on the Fed’s balance sheet for the week ended September 9, released this afternoon, fell by $7 billion from the prior week, to $7.01 trillion. Since the peak on June 10, total assets have declined by $158 billion: