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Showing posts from July, 2016

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Boris Johnson's Greatest Hits

Boris Johnson was just named the UK Foreign Secretary.  This is going to be awesome.  He's like a Nigel Farage understudy.

FT:
Boris Johnson on . . .

Hillary Clinton

“She’s got dyed blonde hair and pouty lips, and a steely blue stare, like a sadistic nurse in a mental hospital . . . she represents, on the face of it, everything I came into politics to oppose: not just a general desire to raise taxes and nationalise things, but an all-round purse-lipped political correctness.”

Donald Trump

“The only reason I wouldn’t go to some parts of New York is the real risk of meeting Donald Trump.”

Barack Obama

“Some said [his decision to move a bust of Winston Churchill from the Oval Office] was a symbol of the part-Kenyan president’s ancestral dislike of the British empire.”

Vladimir Putin

“Despite looking a bit like Dobby the House Elf, he is a ruthless and manipulative tyrant.”

Recep Tayyip Erdogan

“If somebody wants to make a joke about the love that flowers between the Turkish president and a …

No jumbo for you!

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You may recall that a couple years ago, jumbo mortgage rates went lower than conforming rates.  We speculated that this was due to fixed transaction costs being a larger percentage of smaller-balance loans.

But no longer.  With 10-year Treasuries crashing to record lows and conforming mortgages following, jumbos are not approaching the 3.5% area we saw advertised last year.

Bankrate recently:


There may be a new refinance boom for conforming mortgage debtors, but not for jumbos.