On Condé Nast’s Portfolio.com, there is a post telling us something that we, unfortunately, already know: The subprime mortgage situation still sucks. The post points out that while mortgage lender Countrywide shares have gone up recently, that ‘victory’ is relative and hardly an indicator that happy days are here again. The so-called subprime meltdown is an extremely complex financial matrix with many factors including interest rates, the construction industry, foreign credit and last but not least, politics. As the post’s author put it

[…] We might have passed the “chaos” part of the credit crisis, when no one had a clue what was going on and very short-term interest rates, especially, started behaving crazily. But some very big bond-market losses might yet still await us – and those, as we’ve seen, can have nasty systemic implications.

Check out the full post on Portfolio.com.

Tags | condé nast, credit crisis, interest rate, interest rates, mortgage lender, Politics, subprime mortgage