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"IT'S A BEAUTIFUL THING, DIVING INTO THE COOL CRISP WATER" - By Roger Slaalien
IT'S A BEAUTIFUL THING, DIVING INTO THE COOL CRISP WATER." Olympic Gold Medalist Dawn Fraser. Diving may be a beautiful sport at the Olympics, but it's not a beautiful thing to watch in the Bond market.
"I GUESS WE ALL LIKE TO BE RECOGNIZED NOT FOR ONE PIECE OF FIREWORKS, BUT FOR THE LEDGER OF OUR DAILY WORK" - By Roger Slaalien
I GUESS WE ALL LIKE TO BE RECOGNIZED NOT FOR ONE PIECE OF FIREWORKS, BUT FOR THE LEDGER OF OUR DAILY WORK." ~ Neil Armstrong. And while the summer's fireworks started in full force on the July 4th holiday, they continued daily last week in the financial markets as Bonds and home loan rates ignited and began the week by improving sharply.
"I NEVER WORRY ABOUT ACTION, BUT ONLY ABOUT INACTION" - By Roger Slaalien
I NEVER WORRY ABOUT ACTION, BUT ONLY ABOUT INACTION." ~ Winston Churchill. These words proved especially true last week, as the big story was the Fed's lack of action following their recent meeting, or decision to leave the Fed Funds Rate unchanged - but is the Fed's decision a cause for worry?
"VERY NICE. IT’S A LITTLE GREASY… BUT VERY NICE. CRUMBLE SOME CRACKERS INTO IT SHELL, THAT WILL HELP TO ABSORB THE GREASE…" - By Roger Slaalien
“The In-Laws” is good advice about soup…but doesn’t
help us much when it comes to absorbing the high price
of oil, a greasy topic that continues to permeate
financial headlines.
"IOPINION HAS CAUSED MORE TROUBLE ON THIS LITTLE EARTH THAN PLAGUES OR EARTHQUAKES." - By Roger Slaalien
Opinions certainly caused some trouble in the markets last week as several Fed members talked about inflation, the arch enemy of Bonds and home loan rates, and their comments shook the markets like a high-magnitude quake.
"THERE IS NO BARRIER TOO HIGH, NO VALLEY TOO DEEP... NO DREAM TOO EXTREME, NO CHALLENGE TOO GREAT" - By Roger Slaalien
THERE IS NO BARRIER TOO HIGH, NO VALLEY TOO DEEP... NO
DREAM TOO EXTREME, NO CHALLENGE TOO GREAT" ~ Charles
Swindoll And that motivating phrase was a great motto
for last week, as both Bonds and home loan rates ended
up being greatly challenged...
"INFLATION IS AS VIOLENT AS A MUGGER, AS FRIGHTENING AS AN ARMED ROBBER, AND AS DEADLY AS A HIT MAN" - By Roger Slaalien
"Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man" - Ronald Regan....And although you might not describe the effects of inflation in such strong terms yourself...rest assured that the effects of inflation have crept into your home, your gas tank and your wallet.
"Memorial Day" - By Roger Slaalien
I sincerely hope you have been enjoying your
complimentary subscription to the MORTGAGE MARKET GUIDE
WEEKLY. As the Memorial Day holiday is being observed,
the next full issue will arrive on Monday, June 2nd. I
wish you and your family a peaceful Memorial Day
holiday, as we remember the sacrifices of all of our
Armed Forces servicemen and women, past and present, who
have worked so hard to protect our great country.
"It isn't hard to be good from time to time... What's tough is being good every day" - By Roger Slaalien
"It isn't hard to be good from time to time... What's tough is being good every day." Willie Mays. This past week saw both good and bad economic reports being released, which in turn set the stage for another volatile week in the Bond market.
"TALENT WITHOUT DISCIPLINE IS LIKE AN OCTOPUS ON ROLLER SKATES" - By Roger Slaalien
"TALENT WITHOUT DISCIPLINE IS LIKE AN OCTOPUS
ON ROLLER SKATES. THERE'S PLENTY OF MOVEMENT, BUT YOU
NEVER KNOW IF IT'S GOING TO BE FORWARD, BACKWARD, OR
SIDEWAYS." H Jackson Brown Jr.
"KNOWLEDGE IS POWER" - By Roger Slaalien
"KNOWLEDGE IS POWER." It's a phrase used by many, and last week was an important one to be in the know, as Bonds and home loan rates were affected by many big newsmakers and market shakers.
"IN THE SPRING, I HAVE COUNTED 136 DIFFERENT KINDS OF WEATHER. AND THAT WAS JUST INSIDE OF 24 HOURS" - By Roger Slaalien
"IN THE SPRING, I HAVE COUNTED 136
DIFFERENT KINDS OF WEATHER. AND THAT WAS JUST INSIDE OF
24 HOURS" Mark Twain. And Bonds have certainly
weathered all kinds of days this spring, with this past
week being no exception.
"THERE IS NOTHING WRONG WITH CHANGE, AS LONG AS IT IS IN THE RIGHT DIRECTION" - By Roger Slaalien
"THERE IS NOTHING WRONG WITH CHANGE, AS LONG AS IT IS IN THE RIGHT DIRECTION." ~ Winston Churchill. And there were some big changes indeed for Bonds and home loan rates last week - but not necessarily all in the "right direction".
"I KNEW THE RECORD WOULD STAND UNTIL IT WAS BROKEN." - By Roger Slaalien
"I KNEW THE RECORD WOULD STAND UNTIL IT
WAS BROKEN." Yogi Berra A record was
broken on the job front last Friday as the Labor
Department reported a much worse than expected loss of
80,000 jobs in March - the greatest jobs loss reported
in five years.
"NO GREAT DISCOVERY WAS EVER MADE WITHOUT A BOLD GUESS" - By Roger Slaalien
"NO GREAT DISCOVERY WAS EVER MADE WITHOUT A BOLD GUESS." Isaac Newton But even the great mind of Isaac Newton might not have guessed that Bonds and home loan rates would continue on such a volatile course.
"DARLING, I DON'T KNOW WHY I GO TO EXTREMES..." - By Roger Slaalien
"DARLING, I DON'T
KNOW WHY I GO TO EXTREMES...TOO HIGH OR TOO LOW, THERE
AIN'T NO IN-BETWEENS..." Billy Joel The financial
markets endured another week of extreme bipolar
behavior, with enormous intra-day mood swings that
normally wouldn't be seen over the course of several
weeks.
"JUST WHEN I THOUGHT I WAS OUT...THEY PULL ME BACK IN" - By Roger Slaalien
"JUST WHEN I THOUGHT I WAS OUT...THEY PULL ME BACK IN." Al Pacino in the 1990 film, The Godfather III And if Bonds and home loan rates thought they were out of the days of volatility...they got pulled right back in, as last week brought daily price swings of almost historic proportions. For the week overall, fixed home loan rates improved by about .25%.
"I'M GOING OFF THE RAILS ON A CRAZY TRAIN..." - By Roger Slaalien
"I'M GOING OFF THE RAILS
ON A CRAZY TRAIN..." - OZZY OSBOURNE And speaking of
going off the rails crazy...Bonds and home loan rates
just experienced one of the most volatile, crazy weeks
ever seen, with fixed home loan rates rising by about
.375% by the time the smoke cleared.
"I DON'T MEASURE A MAN'S SUCCESS BY HOW HIGH HE CLIMBS" - By Roger Slaalien
"I DON'T MEASURE A MAN'S SUCCESS BY HOW HIGH HE CLIMBS...BUT HOW HIGH HE BOUNCES WHEN HE HITS BOTTOM." General George S. Patton. And the General himself would certainly consider Bonds to be a success last week, as they moved lower to hit a technical "bottom" at the 200-day Moving Average, but then bounced significantly higher throughout the course of the week, helping fixed home loan rates improve by about .25 to .375%.
"AH SUGAR...AH HONEY HONEY" - By Roger Slaalien
"AH SUGAR...AH HONEY
HONEY" The Archie's made this the top song of 1969,
and in fact, it was the only song recorded by a
fictional band to ever reach #1. And like a child who
has been overloaded on candy, Bonds have been "bouncing
off the walls", and appear all "sugared up".
"CUTS LIKE A KNIFE, BUT IT FEELS SO RIGHT" - By Roger Slaalien
"CUTS LIKE A KNIFE, BUT IT FEELS SO RIGHT" Bryan Adams And financial pros will tell you it's wise to never try and catch a falling knife. Seems like decent advice in general - but in the financial world, it means that when the price of a Stock or Bond is in the midst of a severe decline, be very cautious about stepping in to buy...even if it feels so right because the price starts to look cheap.
"LOOSE LIPS SINK SHIPS" - By Roger Slaalien
"LOOSE LIPS SINK SHIPS". Slogan from World War II Not just clever words of good advice, this phrase was actually part of the US Office of War Information's attempt to limit the possibility of people inadvertently giving useful information to enemy spies. Now fast forward to present time, as Dallas Fed President Richard "Loose Lips" Fisher's careless comments last week worked to sink the Bond market, and caused home loan rates to rise about .125%.
"THE BEST THINGS IN LIFE ARE FREE!" - By Roger Slaalien
"THE BEST THINGS IN LIFE ARE FREE!" Ok...ok...maybe they're only "free" for identity thieves, but the Tax Man's a different story! Have no fear. The tax tips below can help you get through the process quickly and efficiently...and get to the real good news: a completed 2007 tax return!.