Lock Watch for the Week of 9/24/2018

Mortgage and Lending with Guaranteed Rate, Marin County, CA NMLS: 22343

Lock Watch for the Week of 9/24/2018



Big week of data ahead and auctions, including a Fed decision, which will (with 95% certitude) bring us a rate hike.


Economicalendar (all times are Pacific):

Mon, 9/24:       2-Yr Note Auction (10am).

Tues, 9/25:       Case Shiller Home Price Index (6am), Consumer Confidence (7am) and 5-Yr Note Auction (10am).

Weds, 9/26:     New Home Sales (7am), FOMC Announcement (11am).  

Thurs, 9/27:    Jobless Claims, Durable Goods, Intl Trade in Goods and GDP (5:30am), Pending Home Sales (7am), 7-Yr Note Auction (10am).   

Fri, 9/28:        Chicago PMI (6:45am) and Consumer Sentiment (7am).


10-Year Treasury History

3.08%     Today's Open

2.99%     One Week Ago

2.82%     One Month Ago

2.22%     One Year Ago


Mt. Rushmore

My 82-year old Dad was road tripping across the country with two of his buddies and in the process taking down a number of items on his proverbial bucket list.  He texted over some amazing photos from the Badlands of South Dakota and, of course, Mt. Rushmore.  I had never really though much about the monument beyond its caricature status and, well, perhaps thinking which president might be added next if they were ever to expand on the four there now; Washington, Jefferson, Theodore Roosevelt and Abraham Lincoln.  A true icon of Americana, Mt. Rushmore has some interesting facts behind it:


  • The man behind the idea was Doane Robinson, but his original vision was not "olden day Presidential."  In fact, Doane wanted to carve icons of the west into the Needles of South Dakota --- Lewis and Clark, Buffalo Bill Cody, etc.
  • Sculptor Gutzon Borglum persuaded Robinson to use presidents instead, and as a way to increase tourism to the seldom-visited state. 
  • Gutzon Borglum was a devout member of the Ku Klux Klan and died in 1941.  Back then this was not an automatic disqualifier, so I guess in some sense it's heartening to know that American society has made progress.  His son, Lincoln, took over the work but even though their plans included adding Susan B. Anthony and completing the statues to the waist, WWII pretty much put an end to the funding and work.
  • Jefferson was slated to go on Washington's right, but the quality of the granite didn't support sculpting, and they changed midstream and dynamited what they'd started.
  • Chief carver Luigi del Bianco was a headstone carver from Port Chester, NY, where my dad lived for a time as a young man.  He (my dad) found that particularly amusing.
  • A "secret room" behind Lincoln's head was actually supposed to be a vault to store important American records, but it never gained traction because of difficulty of access.  
  • The monument faces southeast, which gives it greatest exposure to sunlight.
  • Native Americans view the monument with great controversy and for obvious reasons, not limited to modification of the area's natural beauty.  Suggestions that the ongoing work on the nearby Crazy Horse Memorial are quid pro quo by the descendants of tribes in the area are not supported by fact that they hold the view that all scarring of the landscape is inconsistent with their values.  I think it's very fair to be respectful of that, even as we admire Mt. Rushmore to the tune of more than 2 million visitors a year.


My lands are where my dead lie buried,



Robert J. Spinosa
Vice President of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 Fax: 415-366-1590

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


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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

rob - thanks for the market update - understanding the current financial markets is so crucial to our business

Sep 24, 2018 07:26 AM #1
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, ABR, CNE, CRS, ePro, PSA, SRS

Thank you for keeping us posted and up to date. Best of luck!

Sep 24, 2018 12:49 PM #2
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Rob Spinosa

SVP of Mortgage Lending, Marin County
Can I Get a Jumbo Loan with 10% Down?

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