The word on the Street is that perhaps the credit crunch is coming to an end. Recently we’ve been hearing about Financial Institutions raising capital, along with Washington Mutual that is accepting a 5 bil. Cash infusion. Traders are viewing the recent investment and capital raising along with what might be the last of the big “sub-prime” write-downs as a sign the worst of the credit crisis may be in the rear view mirror.

Washington Mutual is also expected to announce late today or tomorrow that they are pulling out of the wholesale mortgage market. We don’t know if they will honor their existing loan pipeline and locks. If