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Lock Watch for the Week of 5/14/2018

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Mortgage and Lending with US Bank NMLS: 22343

Lock Watch for the Week of 5/14/2018

 

Volatility-O-Meter:

Relatively quiet week aside from a lot of Fed member speeches, but I am going to put oil prices on the radar too.  Heightened Middle East tension could spill over, through oil, into stock and bond markets.

 

Economicalendar (all times are Pacific):

Mon, 5/14:       Quiet. 

Tues, 5/15:       Retail Sales and Empire State Mfg Survey (5:30am) and Housing Market Index (7am).

Weds, 5/16:     Housing Starts (5:30am) and Industrial Production (6:15am)

Thurs, 5/17:    Jobless Claims and Philadelphia Fed Business Outlook Survey (5:30am).  

Fri, 5/18:        Quiet.

 

10-Year Treasury History

2.99%     Today

2.95%     One Week Ago

2.82%     One Month Ago

2.34%     One Year Ago

 

TSS and KISS

Sometime in 1976 my mom must have (reluctantly, I'm sure...) taken us inside the TSS department store on Hempstead Turnpike in Elmont, NY.  If you grew up on Long Island in the 1970's, you probably remember TSS, a precursor to K-Mart, Walmart and stores of that ilk.  I seem to remember that the "record" section was just to the right as you walked in the front doors, though I could be wrong about this due to the hazy memories I have from that era, but as a six-year-old I nevertheless must have immediately gravitated to the very impressionable album cover of KISS's Destroyer.

 

Even more remarkable than shepherding three kids through any store without expecting them to beg and plead for everything in sight was the fact that somehow I walked out that day with a copy of that very same Destroyer in my hands --- my very first album.  Getting a parent to spend six or seven bucks on a heavy metal record back then was a big deal --- especially when I know that, taking a cue from the album cover art, my mom must have been highly skeptical about the sounds that might emanate from the phonograph when things got up to 33rpm.  I willl never know how this passed the "appropriate-for-a-first-grader" smell test, but that day it thankfully did.

As it turns out, even if today --- 40+ years later --- you drop the needle on side A of Destroyer, the first riff you are going to hear is the epically and eternally cool intro to Detroit Rock City. Yeah, as a six-year-old, I didn't really get the meaning of the song itself.  But the meaning of the music?  I got that alright....

 

What was your first record and did it stick?

 

Get down! Everybody's gonna leave their seats,

 

 

Robert J. Spinosa
Vice President of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 Fax: 415-366-1590
rob.spinosa@rate.com

Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960

Berkeley Office:  1400 Shattuck Ave., Suite 1, Berkeley, CA  94709
 

*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate's Human Resources Department.

 

Guaranteed Rate. Illinois Residential Mortgage Licensee NMLS License #2611 3940 N. Ravenswood Chicago, IL 60613 - (866) 934-7283

Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

I think my first album was an Elvis, not Elvis Costello but the original Elvis. 

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