Traditionally when there is no economic data scheduled for release, like we have today, markets tend to be quiet. But let’s just say we’re not in a traditional market pattern as of late. As Bear Stearns manages to secure cash and save their troubled hedge funds, mortgages and treasuries have been taken for a ride as investors have come into, and out of, these markets to offset exposure in other riskier ventures. Mortgages traded inline with Treasuries yesterday; there was a late day squeeze on TBA’s which pushed Fannie Mae securities down across the stack. The 2yr closed down a couple of ticks to end the day at 4.97%, and the 10yr was pushed down 15/32’s yielding 5.188% This morning is quiet…..too quiet: Mortgages little changed from yesterdays close, and Treasuries are currently hanging tough with the 10yr sitting at 5.19% Like I said, a quiet day (D’oh!)
When my Mom wasn’t within earshot my Dad would say, “What’s worse than a Male Chauvinist Pig? A woman who won’t do what she’s told!” Needless to say, he thought he was being funny. The fact of the matter is, according to US Census data, 55% of loan officers are women. More and more single women own homes, a trend that is not lost on educated loan agents. Culling data from two studies that reveal what women think about home ownership and home maintenance, Sears found that 85 percent of women surveyed have been, are or expect to be solely responsible for a home at some point in their lives. More than half said they are already responsible for basic household maintenance and repair, either on their own or in conjunction with their spouse. However, 94 percent of them are concerned about getting a fair price from home maintenance professionals; 63 percent of them believe they are charged more than men for the same work and that good home repair professionals are harder to find than doctors, financial advisors or real estate agents. Only good lawyers were considered more difficult to find, according to one survey. “From the record numbers of single women buying a first home to those who are suddenly single as a result of divorce or the death of a spouse, more and more women are finding themselves responsible for a home,” said Georgeann Georges, vice president of Sears Home Services. “Given that a woman’s home is frequently her most valuable financial asset, women need to arm themselves with the knowledge and tools to keep their homes in good repair,” said Georges.
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