Mortgage Blog

The main reason is the Employment data and Fed
minutes saying that the possibility of tapering
of QE. Some guessed the Fed will reduce the MBS
purchase in Sep; others think it might be as early
as June(almost impossible, they don't know Fed yet).

Then some bond traders started selling and the snowball
falling, faster and faster. And it did not stop even
today.  But if a pendulum swinged to the extreme of
the other side, it would bounce back. The problem
is when and how much.

Personally I think teh refinance boom might be over.
And the question is what we should do with the
devalue of the us dollar, the possibility of the
inflation.

One client called me yesterday and asked me about the
opinion of the commercial investment. Though I do have
clients who purhcased multiple units of the apartments,
walgreens, and gas station etc. I still recommend to invest
on the stuff you know and you are good at.

For every industry, only less than 20% of people make good
money(80/20 rule). Like the mortgage industry, though it
was a good business, more than 80% of the loan agents
originated 25% or less of my volume. If another person
makes lot of money on stocks or real estate, it does not
mean you will make the money as well.

By the way, I started my running blog here:
http://ericfang.blogspot.com/