Barry Habib-Mortgage Market Consultant

Last week I was at a lunch seminar where the speaker was Barry Habib.  Barry is a consultant in the mortgage industry that often gets called for interviews from Fox, CNN, NBC, CNBC plus countless others.  He is someone I value his take on where the mortgage market is heading and here are a few points from his talk:
·         Many folks thinking about a refinance or buying that next home are waiting for the rates to make their final drop to the bottom.  He asks why wait?  Do you want to get the rates as they head to the bottom or after they turn and start their way back up?
·         Funny comment about George Washington never saw rates this low.
·         Ten + years ago the going rate was at 9%
·         Wonders why many say “my CPA is, my attorney is, my doctor is” but when it comes to a loan- “I used this guy”
·         Rates are on their way up- this month marks the end of the Fed buying Mortgage Backed Securities.
·         Mortgage rates are influenced by the stock market, economic news, technical signals, inflation and treasuries
·         Worries, like I do about how the government and other agencies, when they release their reports, with the real numbers buried in the report or sending out updated numbers a week after the report hits
·         The other day the government extended the time unemployed works can file for unemployment benefits- but currently do not count those that are on this expended timeline in the unemployment numbers
He finished his talk with a story about the book the Wizard of OZ.  Have you ever hear the story that the book was about more than what it appeared?  Maybe Silver and Gold? 
Here is an excerpt from Wikipedia:
  Numerous scholars in history, political science and economics have asserted that the images and characters used by Baum and Denslow closely resembled political images that were well known in the 1890s. They argue that Baum and Denslow did not invent the Lion, Tin Man, Scarecrow, Yellow Brick Road, Silver Slippers, cyclone, monkeys, Emerald City, Munchkins (little people), Uncle Henry, passenger balloons, witches and the wizard, as these were all common themes inspired from-in the editorial cartoons of the previous decade.
Baum and Denslow built a story around them, added Dorothy, and added a series of lessons to the effect that everyone possesses the resources they need if only they had self-confidence. Positive thinking was a prevalent trend in this period, and was the conduit by which Dorothy ultimately gets herself home. Baum, a leading authority on department store window displays that depicted imaginary worlds may also have been influenced by the elaborate Christmas displays in the department store windows in major cities.

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