Jobs Report; Parachute-Mind
My Schedule…and a Little Extra: Your mind is a parachute. My father-in-law went to one of those time-share sales meetings so he could get a free toaster or carrying bag or something. After listening to the sales pitches which lasted for a couple hours, he told the sales person repeatedly that his only interest in coming to the meeting was to get the damn toaster or handbag or whatever it was they were giving away. The salesperson said to him, “your mind is like a parachute…it does no good unless it’s open.” I have to say, I love the analogy, but for some reason it just didn’t work on my father-in-law.
Mystery Music Lyric: She’s a good girl, loves her mama, Loves Jesus and America too — She’s a good girl, crazy ’bout Elvis, Loves horses and her boyfriend too — Answer.
My Market Watch: Today is boring. But tomorrow is the Jobs Report and it is never boring. The interesting thing about the report is how traders react to the numbers…it’s all about expectations. Traders expect about 162,000 new jobs to reported. If the actual number comes out much less, then traders will interpret the report as a weak economy…less jobs than expected = crappy economy. On the other hand, if there are more new jobs than expected, then traders will interpret the report as a strong economy…more new jobs = rising economy. When traders feel the economy is doing well, they generally sell off bonds to free up money to put into stocks. Conversely, if traders feel the economy is weak, they sell off stocks and put their money into bonds instead. When traders sell off bonds, rates get worse and when they buy bonds rates get better. I wouldn’t be surprised to see the number fall short of expectations and see rates improve. Disclaimer
My Schedule: Available all day.
- Expedited Turns Throughout the Process – 3 days for UW
- We will fund on a fax copy of the docs
For a Clean Underwriting Decision Resulting in Happiness and Adulation – Read Me
For a Long List of Conditions, a Huge Hassle, and Massive Frustration – Ignore Me
Locks | Running DU/DO | Register, Submit & Appraisals | Upload Conditions | CICs | Order Docs