I like green eggs and mortgages!
March 11, 2010
You Quote of the Day:
“Your parents name you, but they have no clue who you are. Your friends nickname you because they know exactly who you are.” – Sting
In 2005 there were over 55,000 mortgage companies. Today there are less than 15,000. I don’t like to brag, but while banks and brokers have been closing their doors, PERL Mortgage has been growing every year since our inception. It is a tribute to the quality loans we take on, our in-house underwriting, and our clients who come to us for loans and send us referrals. Thank you for all of your support and loyalty! (and as long as I am bragging, I’d like to say I completed my first 360 dunk on my Nerf hoop at my house last night. You’re all invited tonight to witness it, as my wife refuses to watch me).
Big stuff coming out this week.On Wednesday, there was a 10-year Treasury Note Auction, and today there is a 30-year Treasury Bond Auction. Who the heck would buy something so boring? Foreign investors. When foreign economies struggle, foreign investors often purchase US based investments. When demand is high, this causes rates to fall; and this is what has helped keep rates historically low the past few years. However, the help we’ve been getting from overseas may be ending because there is a real threat that continued global economic turmoil might keep foreign investors from purchasing mortgage bonds in the future. What do I think? I don’t know enough about foreign economies or foreign investors, but if you want to know about Foreigner I can tell you a lot (including the fact that when I got my first speeding ticket at sixteen Feels Like the First Time was cranked to ten on my Toyota Corolla)!
You Quote of the Day 2:
“Be who you are and say what you feel because those who mind don’t matter and those who matter don’t mind.” – Dr. Seuss
Timeout for Trivia:
Congratulations for all of you last week who correctly guessed Bruce Willis (still hard to believe they named the Sears Tower after him). Want to be entered into a quarterly drawing to win cool stuff? Simply email me with the answer to this week’s Who Am I? question. Good luck! “On this date in 1991 I held the record for the largest record deal ever until my brother signed a bigger deal with Sony a week later. That’s okay. When you’re making that kind of money its all Good Times. I hit the big time in ’86 getting a ton of play on MTV (Paula Abdul choreographed most of my videos!). Despite all of my wealth and publicity, I managed to stay out of any controversy for a long time; although Time Magazine called what happened to me in 2005 the most replayed moment in Tivo history.”