Good News!

The broad consensus of economic indicators is that there is no real inflation and that economy is booming.  There.  Positive news.

The housing market is slowing.  There is lots of data to back this up, but it’s not even necessary if you consider that rates are about a point and a half higher now than they were on the Blessed 14th of June 2003.  Amazingly, this has killed off the refi boom.

Or not.  Lots of people – and this means you, if you got a loan with “bruised” credit – have adjustable rates.  We just picked up a loan from a couple whose rate is going from 7.5 to 9.5 and taking their payment up $300.  We’ll be saving them about $400/mo.  Almost all subprime loans have two-year fixed periods, and two year prepayment penalties.  If you did one with us, we should be contacting you about two months before the payment change.  If you did not do your loan with us, it would be well to call us and we can help you check.  It could save you $5000 a year.  Or more.

Predictions for the weekend:

USC beats UCLA by two touchdowns.  Reggie Bush wins the Heisman (next week).
Texas scores enough points in the first quarter to win the game right there over Colorado.
Alabama beats Auburn in a game that does not feature a touchdown.
The Colts win again.  There starts to be serious talk about challenging the immortal Dolphins’ undefeated season.
BYU beats USC.  Basketball, people.  Basketball.
The Jazz beat Portland.
No political or economic event worth paying any attention to occurs.

Have a great weekend.  Sometime middle of next week comes the long-heralded “I’m Sick of Hearing about The True Meaning of Christmas” post.  Stay tuned.