Lies, Damned Lies, and Statistics
Lying Quote of the Day: “The naked truth is better than the best dressed lie.” – Ann Landers
Wuss’up Today: The Fed meeting adjourns with a 99.4% chance that Bernanke will keep the prime rate unchanged at 3.25%. Balancing out this meeting, there is a 0.06% chance that I will have a good hair day today.
Wuss’up This Week: Mortgage bond prices fell last week, which pushed mortgage interest rates higher. Yet when rates go up we’ve been lucky that there is usually something there to keep them from going way up. This week (and last week) it’s been the Greek debt that has investors buying safe investments like mortgage bonds. Can we count on this to continue? No. Did we count on The Hangover 2 sucking? No. Lots of unpredictability out there, Mortgage Fans. If you are on the fence about buying or refinancing a home, let me tell you that now is the time to do it, while rates are still low. This week we’ve got the Weekly Jobless Claims and New Home Sales reports coming out tomorrow, and the Durable Goods report coming out Friday. As usual, all reports that are good for the economy are bad for rates.
Lying Quote of the Day 2: “I just broke up with my girlfriend…the reason we broke up is because I caught her lying…under another man.” – Doug Benson (comedian)
Timeout for Trivia: Congrats to all who guessed “Ebony and Ivory” as last week’s answer. Want to be entered into a drawing to win a Magic 8-Ball? (my sources say yes). Simply email me the answer to this week’s “Who Am I?” question. Good luck: “Yesterday I turned 64. My TV wife and I share the same birthday, but our marriage would not work in real life, since she came out of the closet in 2009. If you take my real first name with my sitcom last name you’d get the name of an actor who played Batman. And if you take my sister you’ll get an actress that played Alfalfa.”