No sooner did I finish that last post and a new headline jumped out at me on CNBC:
"Key Mortgage Rate Plunges, But Maybe Not for Long."
The 30 year mortgage rate fell from 6.5 on Friday to 6% today. That is a HUGE one day drop. Sure, it might go up tomorrow. And it might go down tomorrow too. And maybe those physics professors experimenting with dark matter over at CERN will indeed create some kind of maelstrom that will consume the earth. Hey, if we are going to speculate wildly, why not go for broke?
The real question is why I keep watching that dumb channel.
4 comments:
Very true of CNBC. Indeed I feel they are now trying to compete with Fox Business (whose content is even more pathetic) in certain time slots. The real question is why do they even want to compete with Fox Business and in the process drag themselves further low!
-NC
Why couldn't they just say, "Mortgage rates fall 50 basis points." Why do they have to mix fact with editorial content, especially when given the random walk nature of asset prices, the editorializing is childish.
What a shame for CNBC, I wonder why they pick up this ridiculous strategy...
Gosh, there is really much worthwhile data here!
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