Lock Watch for the Week of 12/17/2018

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

Lock Watch for the Week of 12/17/2018



FOMC statement and virtual certainty of another rate hike (.25%).  This will not surprise anyone, but against the backdrop of recent market volatility, the ensuing statement could.  Then, GDP on Friday.


Economicalendar (all times are Pacific):

Mon, 12/17:      Empire State Mfg Survey (5:30am), Housing Market Index (7am).

Tues, 12/18:     Housing Starts (5:30am).

Weds, 12/19:     Existing Home Sales (7am) and FOMC Meeting (11am).

Thurs, 12/20:    Jobless Claims and Philadelphia Fed Business Outlook Survey (5:30am).

Fri, 12/21:        Durable Goods and GDP (5:30am).  Personal Income and Outlays and Consumer Sentiment (7am).


10-Year Treasury History

2.87%     Today's Open 

2.86%     One Week Ago

3.08%     One Month Ago

2.39%     One Year Ago



I am not a surfer.  I have never ridden a wave on surfboard, but I do live in Northern California and I have swum in the coastal waters enough to know that even in summer, the ocean can be rough, dark and cold.  So my fascination with the lore of the Mavericks surf break and competition blossoms from a deep respect for those brave enough to stare down the monsters that rumble ashore each winter when the conditions are just right.

As I write this, the surf contest has been called off until later in the week.  The reason?  It's too crazy and too big out there right now, and will be through Monday.  Yet the select group of big wave surfers who are on call to get towed in think that the 2018/2019 version could happen any day, and that means that the underwater ramp off Pillar Point, the winter storm sets and maybe even the wind will all conspire to push swells off Mavericks to 60+ feet in height.

I plan to pull my kid out of school one of these winter days and drive down there to witness the event, whenever it happens.  Until that elusive day, anybody who wants to understand Mavericks has to appreciate that back in 1975, an intrepid 17-year old named Jeff Clark decided one day and after much observation of the offshore break that it was time to leave his high school buddies ashore and paddle out solo to see if big wave riding existed in California.  Jeff continued to surf the break, alone, until 1990, when word began to get out to the rest of the surf world.

They say if you're going to watch Mavericks from the shore it is best to bring binoculars.  That makes sense.  The immensity of it is way out there.


Eddy would go,



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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Ben DeHaven
Haven Realty & Investments - Winter Haven, FL
Proudly serving Winter Haven & Lakeland, Florida

Thanks for sharing, and those waves are HUGE! I might go see if there is a webcam on Mavericks we can see. 

Dec 17, 2018 08:40 AM #1
Patricia Feager, MBA, CRS, GRI,MRP
Selling Homes Changing Lives

Rob Spinosa - My daughter learned to surf when she lived in San Diego. Now she Kite Surfs! Each time I'm invited to a special occasion to watch her in action, I can't help but hold my breath and pray, pray, pray! 

Dec 17, 2018 02:35 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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