Lock Watch for the Week of 1/21/2019
A short week and an ongoing shutdown might test the defenses of the mortgage market...
Economicalendar (all times are Pacific):
Mon, 1/14: Markets Closed.
Tues, 1/15: Existing Home Sales (7am).
Weds, 1/16: Quiet.
Thurs, 1/17: Jobless Claims (5:30am), PMI Composite Flash (6:45am), Fed Balance Sheet (1:30pm).
Fri, 1/18: Durable Goods (5:30am) and New Home Sales (7am).
10-Year Treasury History
2.78% Friday's Close
2.69% One Week Ago
2.91% One Month Ago
2.54% One Year Ago
I know, I know. When you tell people you live near San Francisco and ask them to recall the city's history, they probably first reach for flowers in your hair and Summer of Love. But if you are ever in the Marin Headlands and care to don a pair of sturdy hiking boots or trail running shoes, you may be impressed and surprised to behold the formidable defenses that once held watch over the entrance to the San Francisco bay. We're not talking snipers' nests cut into the hillside here. We're talking massive, reinforced casemates that once housed 16-inch guns like the ones brandished on the Mighty Mo.
Not often filed in the "things you see or think you see when you're out training for an ultra-marathon," and when you're halfway up a steep, winding hill above Rodeo Beach, is a 68-foot long, 120-ton refurbished cannon. But thanks to restoration efforts, Battery Townsley serves as a worthwhile excursion within the Golden Gate National Recreation Area and it's indeed a part of San Francisco history.
The actual guns that once resided in the bunker never, thankfully, discharged in defense of West Coast. However, it is reported that their test firings (of 2000+lb projectiles that could practially reach the Farallon Islands) so shook the mountain that they could be felt in San Francisco proper --- with a wallop.
The batteries that ring the Headlands are an incredible piece of history in an incredible setting. I plan to make many more trips up the hill to check them out. If you're ever in Marin County, get in touch and I will be happy to share a few tips on where the viewing is best.
Cover your ears,
Robert J. Spinosa
Vice President of Mortgage Lending
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.
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