The thing about being in the mortgage business is that you get this twisted viewpoint about about world turmoil that goes something like this: “Ah, the Chinese stock market crashed again last night and the US equities look to open down 400 points? That means rates should be better today.” “Ooooh, Wal-Mart is closing 269 stores and laying off 16,000 people? Nice, that means that interest rates should stay low this week.” “Wow, the Consumer and Producer Price Indices dropped again? That means that the economic outlook is turning sour which should mean that home prices are stabilizing too and that now is an even better time to purchase a home–especially with these low interest rates.”
Some might say that I have a one track mind, but I’d like to think that I am just looking for the bright side of things. The alternative seems pretty dismal tight now.