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Economy

I Got no Place Else to Go

Just like Richard Gere’s character in An Officer and a Gentleman, central bankers recently acknowledged “I got no place else to go” when looking at the US debt and US Dollar.  Part of the recent run up in interest rates was due to speculation that foreign central banks would not continue to buy all the [...]

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Bad day for mortgage rates

This afternoon, Bond Traders decided they hated mortgage bonds, sparking the largest sell-off in years.  Rates will likely be 0.75% to 1.0% higher tomorrow – certainly creating a pause in the refinance boom that has been going on.  Concerns of higher inflation, North Korea’s nuclear testing, government borrowing and higher consumer confidence all contributed to [...]

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One Idea to slow home price declines

An interesting editorial in the WSJ proposes allowing immigrants to be allowed in the US if they buy a home – eat up the excess inventory, stabilize prices, buy furniture, start companies. If they sell or rent in the first two years, they have to return home, after 5 years, they would get permanent resident [...]

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