What a week, huh?  The mortgage rates meltdown scared a lot of people this week, me included.  I was mostly worried that foreign investors believed American homeowners were a all sub-prime borrowers.  I knew if that false sterotype were allowed to proliferate, mortgage rates would skyrocket. I was worried but…

…I didn’t panic.

I didn’t panic because I remembered two rules of investing, learned early in my career:

1- Buy the rumor and sell the news. I expect the Fed to massively intervene next week;  perhaps expand its commitment even higher.  If Ben’s talking on the TV, I’m locking a day or two later.

2- Don’t fight the Fed. People do it all of the time and often end up on the wrong side of the trade.  Why would you fight an institution that just creates money when it needs it?

I said we’ll see rates under 5% by the end of next week.  It looks like I was wrong.  Check out how I screwed this one up

About the Author

I'm Brian Brady, a 19 year veteran of the industry. I started my career with Merrill Lynch, as a financial adviser, right after I graduated Villanova University. I worked in the downtown Philadelphia office. I moved out west in 1992 and have worked in residential real estate lending since 1994. I have originated loans, managed branches, was the National Sales Manager for a regional mortgage bank, and successfully turned around an ailing mortgage banking firm to profitability. I'm back to my first love; working with clients in a financial advisory capacity. I consider myself a Mortgage Planner, which is a new title for mortgage originators who have expertise in financial planning. This means that you'll get a whole lot more than rate and points from me. I'll show you how to properly structure your debt so as to increase your liquidity, safety and return on your investments. I'll even show you a tax trick or two to run by your CPA. Call me at my office at (858)- 777-9751

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