Industry NewsMarkets & Economy

Stop the panic; hold the sugar

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Long-term mortgage rates this week stayed about where they were last week, close to post-January highs: 30-year-fixed mortgages were just above 6 percent, and the 10-year T-note was at 3.82 percent. However, the situation is changing and thick with propaganda. The keys: the difference between a retreat from panic and return to health, and rising global inflation. New claims for unemployment insurance topped again at 375,000 last week and this week fell back again to 342,000 -- on edge, but on the right side of it. Stock market types were pleased at the stability in March orders for durable goods, and downright thrilled that Ford made a profit last quarter (silly: made $100 million, lost $15.3 billion in '07). The media are having a wonderful time mis-reporting housing conditions, ooing and ahhing every time Robert Shiller shouts "Fire!" in the theater. This week he predicted (again) a "30 percent decline in housing prices." All of them, Robert? Uni...