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Happy Chinese New Year
February 18th, 2015 8:13 PM

My wife took two days' off to celebrate the Chinese New Year. And she said that she can feel the spirit of the holidays once she was off. So indeed we did the shopping in the morning and prepare the big dinner the rest of the day.

The bond was up big today, so we might be able to see the lower rates from the current level. We used to have 15 yr fixed 2.875%, and now we can barely have the rate of 3% for no closing cost for 15 yr fixed. Still I have some clients are willing to wait for the rate 2.875% and we already have the application ready.

Continue to read Jack Welch's autobiography. Jack: straight from the gut. This book is not just for the CEOs, managers. It is good for everyone for the general life. After he became the CEO of GE, he tried to keep the units which were either number one or number two of the industry. That's why similar to stock pickings. Normally we should pick the stocks which are number one or number two in the industry, and sold all the other stocks if they could not keep the rankings. In that sense, MA and VISA is ok, KO is ok, but for the banks, I may only need to keep WFC and sold other bank stocks? Do not know, but it might be a good idea to change.

Did not run today. But I rode bike for about 8 miles. Should be good enough for the rest day.

Checked the rate for one of my clients for his purchase. And we found that Jumbo 30 yr fixed purchase rate is the same or better than high balance conforming loan rate.


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Posted by Eric Fang on February 18th, 2015 8:13 PMPost a Comment

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