That is Behind Us. Let's Move Forward. Together.

A Dose of Wisdom

"There are no necessary evils in government. Its evils exist only in its abuses." - Andrew Jackson

The First Hit

I saw another quote this morning that I really liked and thought was appropriate given the division in the country and recent election.

"Every difference of opinion is not a difference of principle. We have called by different names brethren of the same principle." - Thomas Jefferson

JUST as it has become painfully obvious that the pollsters knew nothing, hopefully it will become obvious that much of the vitriol has been nothing but propaganda meant to influence voters. Just because someone on TV SAYS something, it does not make it true. Hopefully a lot of that will come to light in the weeks ahead as well.

It pains me to see people in pain.....to be despondent or downtrodden. Many times, words just are not enough. We need to finds ways to lift each other up......to love each other........

The Digital Prescription (stuff from around the web)

Weekly mortgage demand tanks 11% as interest rates surge higher - Did they really "tank" and was it because of rates, or because of the election. Or a little of both......

From Arch: How to Reduce Those Dreaded Underwriting Delays - Speaking of being despondent or downtrodden......"The stress of purchasing a home makes 50% of American homebuyers cry at least once during the process, according to a Zillow survey of 2,000 new homeowners and aspiring buyers.

By streamlining underwriting — a frequent cause of anxiety for homebuyers — mortgage loan officers can prevent tears, earn customer recommendations and strengthen relationships with Realtors? and other referral partners."

States Where You Can Have a Pet Monkey - This really has no relevance.....I just thought we needed a brief diversion at this juncture.......

Controlled Market Substance

10 Year Yield - Well.....I would say that constitutes a break of that 4.333% resistance (I like that extra three), BUT....today.....we get the decision on rates from Jerome and his cohorts on the FOMC. Iit WILL be interesting. Jerome knows he has a new boss....well.......an old boss...... We COULD push right back below it today. I am NOT saying that is what will happen as there are a LOT of moving parts at the moment, but that break comes just as we are getting the decision on rates....so we will see......

The CBOE Fed Watch Tool shows a 99% chance of a .25 point reduction. That IS probably what we get today, BUT....ALWAYS remember the recent lesson of the presidential election polls. Predictions can be, and often are WRONG!!!! (I think we are ok here though) Also....at the moment....looks like another .25 drop before the end of the year on the 18th......

The VIX - The market does NOT like uncertainty as uncertainty can cause volatility and that volatility shows up in everything from stock to bond prices. When uncertainty goes away, volatility retreats......

Bitcoin - I meantioned a few days ago this thing was pushing 72,000 and looked like it could break and push through it's all time high and take stocks like Coinbase (COIN) and MicroStrategy (MSTR) with it.

Coinbase (COIN) - Figured this would RIP if Bitcoin did and that it could retake $270 in short order. Sure looks like it is on it's way......

SMCI - A little drama here. If these guys don't get there act together this is $15. They COULD be delisted. A LOT of people got wrecked here. I do think there is probably a better chance they right this ship. It could be a massive buying opportunity in this stock. I would be hard pressed to front run it though. If your auditors are Ernst and Young, and they resign over concerns about the company's governance, transparency, and the reliability of management's representations, stating they were "unwilling to be associated with the financial statements prepared by management".....then there is probably a roaring fire at the base of THAT smoke.

Not much on tap today. I will be watching Moderna a little bit. It reported good earnings this morning, but I would be willing to bet investors will be worried about the impact Bobby Kennedy will have on the industry and that stock.

Also, from a mortgage perspective, while we probably don't care a ton about the earnings, it will be interesting to see what airbnb has to say about the market.

Opportunity Injection

- Employment opportunities I see in my LinkedIn Feed on a daily basis.