Best Read: 10 Real Estate Myths Debunked
"6. The Federal Reserve controls mortgage rates.
Wrong. Lawrence Yun explains: The Fed's activities influence mortgage rates but don't directly control them. What the Fed sets is a very short-term interest rate called the Federal Funds Rate. Mortgage rates are determined by global savings as well as credit spreads and inflationary pressures. Over the past two years, the Fed has raised the Fed Funds Rate to 5.5%, and then cut it deeply to around 2%. All the while, the 30-year mortgage rate has averaged in the 6 to 6.5% range. TIP: Today's rates don't look bad compared to the 10% we saw in the early '90s and 17% in the '80s."
The AM ROUNDUP
CNN "Best Cities to Find a Job" is a roadmap for my nephew's generation...
...some heavy reading from left field: The Limits of Urban Simulation was fascinating...
...The Cool Commentator offers "5 Secrets of Innovation" -- nothing new but nice and concise...
...Robert Greene offers four leadership rules from 50 Cent about interacting with your audience -- I was skeptical but this was a superb read...
...controversial college professor urges people to walk away from their mortgages...
...and finally, for those of you doing marketing research like myself: the top 51 Active Rain blogs by traffic, a handy list.
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