THE NEW NORMAL is what this week is all about. The economic data shows that the pace of the recovery has slowed. While new home sales came in above last month's numbers, the level is still low by comparison to prior years. Businesses are ordering less durable goods (big stuff) and unemployment remains stubborn. But this does NOT mean that the recovery is ending. It DOES mean that we are in a ‘new normal'.
The economic melt down that occurred in ‘07 and ‘08 … (2 comments)
weekly mortgage comentary: A Mortgage Explanation
- 01/28/11 08:05 AM
The question I'm asked daily is "Where do you think rates are headed?" Let's use the image of a harbor with boats. The tide will ALWAYS raise and lower all boats. The tide is inflation. The boats are rates. Now from time to time storms will pass by and raise or lower the boats for a brief period, but the tide is the granddaddy, the irresistible force. This week we saw storms enter the harbor as Brittan's GDP came in negative which scared investors and caused money to flow into the US for safety. This lowered rates because if … (6 comments)
… (2 comments)
;)
;)
