Wednesday, March 9, 2011

Wisdom from My 5 year old...and quick Market news

THE "DARK LABORATORY" and Some Market News...

Oil is trading at $104 a barrel.  There is a set of "behind the scenes" reasons for this that I would be happy to discuss with you if you like individually.

FNMA 4.0% bond is UP on the day by 47 BPS!  This is good and is keeping the bond in a place where our rates are staying pretty steady in the "just-under-5% range on 30 year fixed money.  Some of this is due to a very successful bond auction today.  21 Billion in 10-year notes were auctioned off and sold like crazy garnering an "A" rating for the auction. 

GOLD closed at $1430/ounce.

Interesting announcement today: the LARGEST bond fund IN THE WORLD (Pimco) has a fund called a "Total return fund".  They have taken ALL holdings of government related securities and sold them out of that fund.  This is an indicator that they may not be expecting the best.  See more HERE

Shortest version: Rates are steady or better tomorrow.    And now the "Dark Laboratory":


When I was on my way out the door this morning, my 5-year-old son broke from the table where he was eating breakfast and caught me for a moment.  He wrapped his wiry little arms around my neck as I stooped down to him to get one last goodbye for the day.  He pressed his soft little face against mine as he hugged me "real good".

When I stood up he was still looking up at me through his beautiful green eyes which were as wide as saucers. He inhaled deeply and said: "DAD! When I grow up I want to design a ride!  It will be called the "DARK LABORATORY" and when you get in it it will say: "YOU ARE ON YOUR WAY TO THE DARK LABORATORY!!!"

Both times, he made sure to say "Dark Laboratory" in his most sinister sounding voice.  I was really impressed at his imagination and thanked him for sharing such a great idea with me!

I walked out the door and to my car with a smile.

Interestingly, what he said really resonated with me.

How often do I get into my car lately to go to work and turn the key only to hear my mind's narrator say "YOU ARE ON YOUR WAY TO THE DARK LABORATORY!!!".

I have got to level with you: The mortgage biz has not been nearly as fun lately.  Unless you are this guy and are cool with the pain involved:

OUCH!!

Sometimes I feel like I am stuck in an episode of "American Gladiators" and my best is just short of what is required to complete some of these loan files.  It is disheartening to visit with 20-30 people a month who are interested in mortgage finance...but do not qualify.

Face it: things are going to get tougher.

Will I get tougher, too? Will you?

The way I see it I need to find a way to fit the "HOLY TRINITY" of one's career into what I do:

1. What I like

2. What I am good at

3. What the market needs and desires.

If I can't find a way to do that: I am destined to work at the "DARK LABORATORY".

Cheers,
Chad



--
Chad Schauers
Montana Mortgage Lender, Bozeman, Montana
fax: 406 522 0924
Personal Cell: 406 799 8613
Personal Email: metchad@gmail.com