Mortgage rates took a small step backward yesterday following a very weak treasury auction of 3 year notes. The demand was well below recent averages. Following the release of the results, many lenders did reprice for the worse increasing consumer borrowing costs. We also received the FOMC minutes, but no major surprises as it only reaffirmed what we already knew…economic recovery will be sluggish, deflation is a greater risk than inflation and more quantitative easing is on the way.
...

The bond market was closed yesterday in honor of Columbus day.

Today brings us two relevant events that could impact mortgage rates. Of lesser importance is a treasury auction of $32billion of 3 year notes at 1pm. This auction will carry less weight than tomorrows 10 year note auction as the life of a mortgage is much closer to 10 years than it is to 3 years. Strong demand for our nation’s debt is one of several factors that have attributed to mortgage rates holding near record...

Since yesterday, I've been in the midst of the procedures to prepare for today's colonoscopy. If you've had one you know it is not pleasant. I'm feeling sorry for myself, but mostly I am indignant.

Why are advanced medical procedures always so discomforting to the patient? Sure, I understand that things have to be made easier for the health care providers to get a view of their patients' situations, but couldn't they design in some considerations for the patients at the same time? I'm...

Compared to other places that I have lived, we found Austin to have lots of things that we loved when we moved here. Including its being a city where many parts of it have a friendly, small town feeling. Some of those things we loved have disappeared as Austin has grown, but...