Mortgage Blog

30 yr fixed rate back to 4.25% after hitting a high
of 4.5% to 4.625% a few days ago. It's a good sign of
the trend of going down. But it will be very very hard
to get the lowest level any more.

There are some good points from "What the Dog Saw" by
Malcolm Gladwell. We are in a world of too much information.
And we need special skills to solve puzzle from the mystery.
From the Enron case, it was first reported by a reporter
called Jonathan Weil(I can not believe a journalist can read
the financial statements, and all the financial analyst
could not?), and then a short seller James Chanos.
It is so complicated th read all those SPEs(special-
purpose entities) for their accounting to beef the earnings.
But some analyst later on said that it would be very "easy"
if they just review the tax return Enron's tax returns from
1996 to 2000. They did not make any money for the 4 of
the past 5 years. It is very simple, and those
Wall Street professionals could not find it.

It is very interesting to read Malcolm Gladwell's books.
His books have lots of stories, from Outlier to The Tipping
Point, and The Blink. All very good books.