Archive for February, 2010

RateWatch Groundhog Day – Seems Appropriate

Markets: Blah blah up just a little blah FED blah blah blah GDP growth blah unemployment numbers blah blah blah.  It’s Groundhog Day (again.  What, it’s not Feb 2 where you are?).  Of COURSE the markets are doing the same thing day after day.

Analysis: Nobody believes the economic reports.  Government data is having essentially no impact on anything.  We’re stuck in a narrow trading range and the betting here is that we will blow out of it to the downside, meaning that rates will increase.  When that will happen is anyone’s guess.  I’m no Punxsutawney Phil.  All I can do is promise that when it does happen, you’ll hear about it here first.

Action: Same recommendation as before.  You have time here, but nobody knows how much.  Use it to get yourself positioned correctly so that you can move when the opportunity presents itself.  If you do not do this, and the market takes of, you WILL NOT BE ABLE TO TAKE ADVANTAGE.  The days of deciding this morning to get a loan and tonight being approved are long, long gone.  In most cases, it takes WEEKS to make sure that you’re positioned properly and that there are no red flags.  PLEASE, I beg you, do not wait to start having a conversation with a true professional about your loan options.  Do it today.

Inspirational note for the holiday: I love the movie Groundhog Day.  I watch it with my family every year.  Every year I get something good out of it, and this year was no exception.  I firmly believe that our lives are much more like Phil Connors’ life than we care to admit, and I’m with Rita – “Sometimes I wish I had forever.  Maybe it’s not such a bad thing, Phil.  It all depends on how you look at it.”  We all have much more time than we think, and if we would use it the way Phil eventually did when he learned to play the piano, just plowing ahead, making mistakes all over the place, and not paying the mistakes the slightest attention, getting better and better by never quitting, we could accomplish almost anything.  ANYTHING.  You can do this.  I know of my own self, having put this plan to the test.  So pick something and give it the Groundhog Day treatment; do it and keep doing it as if you had forever.  You’ll get better and better and your life will be richer for it.

See you tomorrow.  Maybe.