Mortgage rates are about the same as they have been averaging: 6.25 percent for basic conforming loans. All other markets are in frantic action, a perfect mirror of the struggle between two groups for accurate perception of the economy. One crowd is plugged into the global economy, technology and stock-market optimism; to them, business has never been better. The second crowd is the bond/bank bunch: we weren't there at the time, but things look a lot like the run in to the 1930s. Both are correct. However, only one will stay correct. The first camp's strength may pull us through -- or not. The struggle has continued since August, and today was the best yet. In the single datum most important to markets each month, October payrolls grew by 160,000, a big, surprising "Camp One" victory. Economic strength should relieve the anxiety driving money to bonds, and on the way out, drive interest rates up. Not today! A whole new wave of "Camp Two" panic overtook the markets, thou...
by Amber Taufen | Apr 26
by Gill South | Apr 24
by Amber Taufen | Today 3:00 A.M.
by Gill South | Apr 27
by Marian McPherson | Apr 21