Legendary guitarist and tireless performer BB King died last night. As a guitarist and closet performer myself, I am an admirer of Mr. King’s playing style and work ethic.
The thrill also appears to be gone for those seeking to push interest rates higher. After a three-week-long scare where pricing on mortgages declined significantly and interest rates on some products rose as much as 3/8%, we have seen welcome stabilization the last two trading sessions and a sign of a minor reversal this morning. I am not forecasting that we’ll see rates drop from here, but it’s nice–as I am sure that BB has discovered–to have some rest.