Thursday, February 21, 2008

Around the Internet

Mortgage rates skyrocket - Have you noticed how mortgage rates are climbing instead of dropping? If the Fed keeps dropping rates, how does that makes sense?!?
"When people hear that the Fed has cut short-term rates, they expect long-term mortgage rates to move in the same, downward direction. But it's a stubborn fact that when Fed rate cuts are deemed inflationary, long-term mortgage rates go up. And that's what has been happening in the past few weeks."
Specifically, lenders aren't too keen on lending money on the cheap. If inflation is on the horizon, they're better off upping their rates to reflect the state of the economy.

U.S. postal rates will increase in May - Yes, again. To 42 cents. However, if you purchase Forever Stamps prior to May 12, their value will rise to match the price adjustment. Otherwise, stock up on 1 cent stamps. More details here.

Classic Beach, but Much More in Santa Monica - The New York Times says Santa Monica's a good place to visit. Obviously, we agree ;-)