Mortgage Rates Fall Sharply, 3.5% 30 Year Fixed

From Matthew Graham at MortgageNewsDaily: Just When You Thought Rates Wouldn’t Go Any Lower Mortgage rates were already in great shape on Friday after having fallen to the lowest levels since November 2016. Rather than draw inspiration from the week’s big ticket events (Fed announcement and jobs report), the biggest source of inspiration was a […]


CalculatedRisk Speaks! “2020 Economic Forecast featuring the UCI Paul Merage School of Business”

On October 23rd, I will be one of three speakers at the “2020 Economic Forecast featuring the UCI Paul Merage School of Business” in Newport Beach, California, sponsored by the Newport Beach Chamber of Commerce. UCI Finance Professor Christopher Schwarz and I will be discussing the 2020 economic outlook, and Dr. Richard Afable will be […]


Central banks support markets amid trade risks

The Fed confirmed global central banks’ dovish pivot last week, as it cut rates for the first time since 2008, albeit by less than some market participants had foreseen. Its moderate easing stance was in line with our expectations—and we see easier global monetary policies stretching the current cycle and supporting risk assets. This buys […]


ISM Non-Manufacturing Index decreased to 53.7% in July

The July ISM Non-manufacturing index was at 53.7%, down from 55.1% in June. The employment index increased to 56.2%, from 55.0%. Note: Above 50 indicates expansion, below 50 contraction. From the Institute for Supply Management: July 2019 Non-Manufacturing ISM Report On Business® Economic activity in the non-manufacturing sector grew in July for the 114th consecutive […]


Combat Cancer with Cancer Insurance

Among various illnesses, cancer is a major threat to the life of human beings globally. As per data from Census of India, the death rate due to cancer in India is 97 per 100,000 persons with high prevalence in urban regions. The incidence of cancer is highest among the elder people and among females during […]


The true story of neoliberalism in one chart

I was reading the Mirrlees Review of taxation, published by the Institute for Fiscal Studies in 2011 this morning (such things are my day job) when this chart jumped out: If you want an explanation of the consequence of neoliberalism that’s it: over the thirty years when it ran rampant the higher your income was […]

Real Estate

Millionaire to Millennials: The Costly Mistake of Not Buying Now

On his personal website, self-made millionaire David Bach makes a striking statement:  “Not prioritizing homeownership is the single biggest mistake millennials are making.”  He further stated, “Buying a home is an escalator to wealth.” Bach explains: “Young adults in particular aren’t hopping on this escalator, and it’s a costly mistake…If millennials don’t buy a home, their chances […]


Is it time for a parliamentary rebellion?

A Guardian editorial today says, in the context of Brosi Johnson’s No-Deal Brexit plans as an unelected prime minister heading a minority government: There is no justification for parliament not sitting at [this] time. It is therefore essential that MPs should be recalled from their summer recess. Holidays must wait or be terminated. Recall is not […]


Companies House is failing the UK and the business community by ducking its responsibilities to provide decent data to all stakeholders of UK limited companies

A consultation on the future of Companies House procedures closes this morning. It says the consultation is about a series of reforms to limit the risk of misuse: knowing who is setting up, managing and controlling companies improving the accuracy and usability of data on the companies register protecting personal information on the register ensuring compliance, […]


The audit market does not work

I noted the problems that Sports Direct will have when appointing a new auditor last week. The likelihood is that no one wants the job. Now the FT has also commented on the issue in an editorial, saying: When a UK parliamentary select committee examined the idea of independent appointment of auditors, it concluded such a “radical […]