An
ugly week in the MBS market has moved mortgage rates up. Statements by
the Fed and its leader, Ben Bernanke, regarding the time frame
for easing back on the MBS stimulus known as QE, were considered by
investors to be a thumbs up on current economic growth. Essentially, if
the Fed is so optimistic about the speed of recovery, that it's willing
to pull back on the stimulus much earlier than
previously indicated; then investors definitely want to be taking
advantage of the potential increases in the stock markets. So, they
moved their investment funds from the bond markets to stocks, which
drove the bond markets down and interest rates up.
That's an extreme simplification of what went on this week, but how much do you really want to know?! A reality check is due, and it's likely that mortgage rates could get somewhat better over the coming weeks. Maybe not a lot better, but better. Our economic growth rate is not stellar, and there is still no fear of inflation, so many analysts expect to see the Fed continue its stimulus efforts. However, markets will bounce on every word from that group, and every word will be scrutinized more closely as time goes on. On the fun side, I've attached a colorful Housing Market comparison graphic that may be of interest. It shows the fall and rise of housing prices from 2009, 2011, and 2013 across the country. It may be helpful in convincing your buyers and sellers to do something sooner rather than later. The percentage of loss or gain shown is a 2 year comparison. So, the first one shows home prices declining an average of 17.6% from March of 2007 to March of 2009, and so on.
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LOS ANGELES – MMAjunkie is on scene and reporting live from today’s UFC 227 event, and you can join us for live play-by-play and official results beginning at 6:30 p.m. ET (3:30 p.m. PT). The event takes place at Staples Center in Los Angeles. The main card airs on pay-per-view following preliminary-card bouts on FX and UFC Fight Pass. In the main event, bantamweight champion T.J. Dillashaw (15-3 MMA, 11-3 UFC) rematches former champ and ex-teammate Cody Garbrandt (11-1 MMA, 6-1 UFC) for the title. In the co-feature, flyweight champion Demetrious Johnson (27-2-1 MMA, 15-1-1 UFC) has a rematch with Olympic gold medalist and former title challenger Henry Cejudo (12-2 MMA, 6-2 UFC). Follow along with our round-by-round updates and official results beginning at approximately 6:30 p.m. ET for the UFC Fight Pass prelims, 8 p.m. ET for the prelims on FX, and 10 p.m. ET for the main card on pay-per-view. To discuss the show, be sure to check out our UFC 227 discussion thread...