Today’s economic news showed slow consumer spending and, again, no inflation. Miracle of miracles, higher energy prices are not bleeding into the rest of the economy. This is a miracle only because higher energy prices – those resulting from a major spike in energy costs, like the one we had in the fall – never result in increased general inflation. Right. Never. It’s never happened. Economists are mystified that the economy seems to be doing exactly what it has always done.
Bond traders, however, greeted the report with joy, and the bond took off. We lost about 1/8 to the 30 and 15-year rates over the last two days – good news for the .14378% of homeowners that have yet to refinance, and even better news for those buying houses. Of which, let me tell you, there is a plethora.
A few of the better links I’m reading:
Does This House Make My Butt Look Fat, a post by the always interesting David Porter of the Pacesetter Mortgage Blog
Overheard in New York, which accurately portrays exactly why I live in Lehi, UT
What is Your Dangerous Idea? for those of us that like living dangerously
Grim Times Ahead, by the most amusing – and consistently wrong – mortgage blog on the ‘net. The premise of this article is that an 8% decline in mortgage applications will usher in the Reign of the Undead. Frankly, if that 8% decline gets rid of 8% of the loan officers I know, we will not yet have gotten to the ones that are merely incompetent, and not willfully evil. This industry has tripled in size in the last 5 years, and could use a trim, if you know what I mean, and I think you do.
And a new installment of the Chris Jones Watch, where I show you yet another of myselves out there on the www. Today, I am a pitching prospect for the Boston Red Sox. But for shoulder surgery, I might be with the big club already. But there is progress of another kind – our website, which when last seen was not mentioned on the web under Chris Jones Group, is now 21st and 40th on Google’s rankings, a dramatic improvement. Mostly thanks to you, I believe. We continue (as the Lehi Chamber Press Release says) to rank #1 on Technorati’s rankings under utah housing, and we’re intent on staying there.
Broncos beat the Patriots in overtime. Bears lose to Carolina by 7. Redskins just don’t have enough offense for Seattle, and Indianapolis crushes the Steelers.
The Jazz, the MIGHTY JAZZ, beat the Heat tonight for their ninth win in ten games.
Have a great MLK weekend.