'Fast Money' Recap: A Super Low Mortgage Rate

Najarian said this development in the housing market ties into the commodity story and could help copper and steel companies. He noted a late rally in the steel names during the day.

Later in the show, Ratigan asked CNBC reporters Diana Olick and Steve Leisman for more information about the short Wall Street Journal story.

Olick emphasized the plans are still just in the discussion stage and directed to homebuyers. She said Treasury is trying its best to downplay the story because it has the potential "to blow up" the home mortgage market tomorrow.

Liesman agreed, saying the plan is "not ready for prime time yet." He said it could be a real problem for the mortgage markets, because it would leave homebuyers working on higher loan rates in a real quandary.

Ratigan asked the panel what they thought about buying stocks on the basis of attractive dividend yields -- a popular trend these days.

Finerman said it's much more important to consider such factors as cash flow and debt load. On that point she said she likes Philip Morris International(PM Quote) and Altria(MO Quote) for their steady cash flow and some debt. By contrast, she is down on DryShips(DRYS Quote) for its huge debt load.

Najarian was leery about getting into stocks with dividend yields in double-digits. "You should forget about it," he said. However, he liked the trading opportunities in pharmaceuticals and integrated oils, noting "they have so much cash now that they don't have to worry about cutting their dividends."