Lock Watch for the Week of 12/31/2018

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

Lock Watch for the Week of 12/31/2018



Another short week, but therefore more potential for volatility and amid a stalemate in Washington.


Economicalendar (all times are Pacific):

Mon, 12/31:      Dallas Fed Mfg Survey (7:30am).

Tues, 1/1:     Markets Closed.

Weds, 1/2:     PMI Mfg Index (6:45am).

Thurs, 1/3:    ADP Employment (5:15am), Jobless Claims (5:30am), ISM Mfg Index and Construction Spending (7am).

Fri, 1/4:        Employment Situation (5:30am) and Jerome Powell Speaks (7:15am).


10-Year Treasury History

2.72%     Market Open

2.77%     One Week Ago

3.05%     One Month Ago

2.48%     One Year Ago


Pony Express

We were driving to South Lake Tahoe over the holiday week and at points alongside Route 50 I noticed that the navigation system picked up broken sections of the old Pony Express route.  I hadn't really thought of the Pony Express outside of folklore so I decided to look into it a bit more.

Basically, back in the late 1800's, if you wanted to send a letter across the US, it had to go around South America.  So, it was going to take a while to arrive --- if it arrived at all.  And I hope you weren't expecting a speedy reply.  Anyway, several entrepreneurs decided that fast mail service from Missouri to Sacramento might meet high demand and so in 1860, they launched the Pony Express, with an advertised 10-day mail time from point to point.  Commandeering and creating 185 way stations along the route, riders (more on them below) would ride, relay and rest along the route, a course which entailed significant enough peril that risk of death was part of the job description and help wanted ads for riders encouraged orphans to apply.

Horses were lightweight, hearty and varied in breed as the terrain dictated.  Riders fit the same first two descriptions and it is thought that most were teenagers.  The total weight of the rider, mail and all accoutrements could not exceed 165 pounds, and when you consider that the mailbag itself (called a mochilla) weighed in at 20 or so, it didn't leave room for any non-essentials --- though a revolver was considered one of those.  Riders would typically put in a 75-mile stretch while the horses were relayed out at 10- to 25-mile intervals.

Ah, that the Wild West lore could be the whole truth, but in fact, the Pony Express was a money loser.  Maintaining the stations, the salaries of the riders, the livestock, etc., could not be supported even by the rich cost to send a letter via the service.  But a slow death would not be the fate of the Pony Express.  Prior to even its second birthday, telegraph lines were strung from east to west, rendering the arduous, if glamorous, route obsolete.  And the rest...is history.


Happy New Year, Happy Trails,



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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Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Thank you for sharing this with us and have a fantastic 2019!

Dec 31, 2018 09:44 AM #1
Francine Viola
Coldwell Banker Evergreen Olympic Realty, Olympia WA - Olympia, WA
REALTOR®, In Tune with your Real Estate Needs

What an interesting history behind the Pony Express.  Thanks for sharing (and doing that research!).  Happy 2019!

Dec 31, 2018 02:43 PM #2
Patricia Feager, MBA, CRS, GRI,MRP
Selling Homes Changing Lives

Rob Spinosa - What a cool history lesson! Can you imagine if progress never occurred and we still relied on the Pony Express? How long would it take to close on a property or would a home and land stay in the family, perhaps even the occupational skill or type of business? 

Have a safe trip and a great time in Lake Tahoe. I've never been there but I have seen pictures and it looks so beautiful and relaxing. Cheers to you and your family for a wonderful New Year. 

Dec 31, 2018 03:10 PM #3
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Rob Spinosa

Vice President of Mortgage Lending, Marin County
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