From a young age, we learn the difference between BOOK SMARTS (knowledge learned in the school classrooms) and STREET SMARTS (what we learn in the "Real World"...often the hard way). There are no shortage of websites providing the BOOK SMARTS of the Mortgage Industry, but there are very few resources a Consumer has to learn about the STREET SMARTS of the Mortgage Industry. Please feel free to SUBSCRIBE (for free) to this ongoing source of truthful knowledge (without the worry of a "sales spin" buried somewhere in the message). After all, we tend to make better decisions when armed with the facts...the purpose of this blog is to provide FACTS by teaching you the MORTGAGE STREET SMARTS necessary to run your business (if you are a Real Estate Professional) or to make the best decisions for your family (if you are a Consumer). Enjoy!
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It has been a volatile morning thus far. The data released at 8:30am EST matched expectations and initially had little impact. April Core PCE inflation rose 0.2% from March and was just 1.4% higher than one year ago. April Personal Income increased 0.3% from March. MBS prices then began to d...
This morning, April Durable Orders showed an increase of 0.8% from March, well above the consensus for a decline of 0.7%. Excluding the volatile transportation component, the results were much weaker however. Factoring in upward revisions to the March data, the report was roughly neutral overall....