It’s not easy being green
President Quote of the Day: “The President is the last person in the world to know what the people really want and think.” – James A. Garfield]
Realtor’s Rock: The NAR (National Association of Realtors) used their forum of its 2010 Conference in New Orleans to urge the lending industry to make things easier for qualified buyers to be approved for loans. What is the industry like now? I would say it’s definitely not green as the paperwork has quadrupled from just one year ago. For every loan I process I feel like I should be planting a tree. Loans are getting approved but Fannie and Freddie need to settle down on their knee jerk reactions which are clogging up the approval process.
Rates, Reports, and Ragu: Interest rates rose almost a half a point last week due to some weak treasury auctions (read: foreign banks are cooling to our debt which is not good for rates). Two ginormous reports come out on Friday that can sway rates in either direction. First, the Employment Report which estimates 150k new jobs and unemployment rate to be at 9.7% – if either of these comes in bad for the economy rates may fall. Also out on Friday is the Factory Order Report which measures how many durable goods (items that last a long time like cars, refrigerators, etc) are being manufactured and how many non-durable goods (spaghetti sauce, chia pets, Funyuns) are manufactured. This report is predicted to be down 2%. Any more than this and rates may go down.
President Quote of the Day 2: “Ronald Reagan? The actor? Then who’s the Vice-President? Jerry Lewis? I supposes Jane Wyman is the First Lady! And Jack Benny is the Secretary of the Treasury. I’ve had enough practical jokes for one evening. Good night, Future Boy.” – Doc Emmet Brown (Christopher Lloyd), Back to the Future (1985).
Timeout for Trivia: Congrats to all of you who correctly guessed Danny Devito as the answer to the Nov 17th question. I’ve got a cool prize to give away this week: Author and musician Jeff Libman (you’ve heard him voice the lyrics to the Potbelly commercials) has a book he wrote called An Immigrant Class (stories of recent immigrants to Chicago) and a CD he recorded (December Wave). Get your name entered into the drawing to win this by correctly guessing this week’s Who Am I? question. Good luck: “I turn 65 today. I’ve had quite the career. I can sing with lots of people (USA for Africa) or just by myself like I did for Johnny. In ’83 I remade a Stones song and Mick even made an appearance in the video. I’m quite the diva and have a reputation for being hard to work with, but if you mess with the rose you’ll get some thorns, you know?”
Lolly Lolly Lolly get your adverbs here…