Stock market is down

[Essexfenwick]

30 year mortgages down to 6.6

Get ready to work

 

[Essexfenwick]

They don't have as much control of that. The issue seems to be trade deficits, as the "reciprocal tariff" calculation was based on 50% of the trade deficit %. Many of these countries are not charging any higher tariff rates than the U.S., and that will show up when some inevitably issue retaliatory tariffs.

Yeah it would seem Europe with its lazy and protectionist sloth is probably the worst.

China doesn’t need tariffs because of cheap labor and no environmental protection but still won’t let in USA products due to expansionist dreams and state vice grip control.

Those two should be the main targets. I say cut off China completely and replace with South Korea.

 

[J Grant]

Well one thing about tariffs is that it supposedly creates good paying jobs and the downside it raises prices. BUT there is another downside. So the downside is these supposed good jobs are going to disappear when AI gets connected to Robotics in three to five years many of the jobs will be gone!
If you think about manufacturing it goes along a conveyor and different workers along that conveyor add parts.

Microsoft AI Copilot told me that the other day. Hmmm it also told me AI will not replace Appraisers anytime soon because the appraiser will still need to inspect the subject Property. BUT WAIT! Isn't that what Harry the Aluminum Can Collector Part Time Property Data report Inspector doing real cheap?

https://www.themortgagenote.org/how-are-fannie-and-freddie-using-AI/

AI offers bland, generic and often outdated answes which is why it sucks ( and why we might still be needed )
AI is not a whistleblower and will not tell the hard truth about corruption or what goes on behind the scenes and shies away from anything controversial ( which is often the only thing that matters)

 

[ucbruin]

30 year mortgages down to 6.6

Get ready to work

Weird how 6.6 is now considered low....

 

[Joe Flacco]

It's not low. It's still in the range since 2023. Once the 10-year gets to 3% it will be pretty busy.

 

[Essexfenwick]

Weird how 6.6 is now considered low....

I’m already getting refi’s on sales from last summer

 

[Joe Flacco]

Sitting on the moving average today with RSI at oversold levels. It can get more oversold like the pandemic but weekly RSI at 30 and around the moving average has been pretty close to lows in the uptrend.

 

[gregb]

Who would exchange a 30% hit on their SEP IRA account for 30% increase in appraisal work?

 

[gregb]

https://www.cnbc.com/2025/04/04/trump-tariffs-jerome-powell.html

 

[Joe Flacco]

Who would exchange a 30% hit on their SEP IRA account for 30% increase in appraisal work?

The decline is temporary though.

The price action is not that unusual. We get headlines and price action like this every few years.