Just over a month ago, the United Kingdom decided to withdraw from the European Union in a decision commonly known as Brexit. At that time there was a lot of speculation on how that decision would impact the U.S. residential mortgage market. Today, we want to look at the impact of the first 30 days.
Most believed that the Brexit decision would drive mortgage rates down and keep them down for some time. As CoreLogic reported:
“First-time buyers can count on continued low mortgage rates to help with affordability issues. Similarly, re-setting adjustable rate loans will have less of a rate shock, and in some cases may even go down.”
What has actually happened?
Initially, rates did fall. However, Freddie Mac has reported that rates have stabilized and have actually increased marginally each of the last two weeks. This prompted Freddie Mac Chief Economist Sean Becketti to say:
And, Capital Economics Property Economist Matthew Pointon believes rates will continue to increase:
We will continue to follow the effect of Brexit on the U.S. housing market. But for now, it appears the impact is not as dramatic as some thought it could be.
From Jon Gordon's Weekly Newsletter
11 Benefits of Being Positive:
1. Positive people live longer. In a study of nuns, those that regularly expressed positive emotions lived an average of 10 years longer than those who didn’t (Snowdon, 2001).
2. Positive work environments outperform negative work environments (Goleman, 2011).
3. Positive, optimistic salespeople sell more than pessimistic salespeople (Seligman, 2006).
4. Positive leaders are able to make better decisions under pressure (Institute of HeartMath, 2012).
5. Marriages are much more likely to succeed when the couple experiences a 5-to-1 ratio of positive to negative interactions, whereas when the ratio approaches 1-to-1, marriages are more likely to end in divorce (Gottman, 1999).
6. Positive people who regularly express positive emotions are more resilient when facing stress, challenges, and adversity.”
7. Positive people are able to maintain a broader perspective and see the big picture, which helps them identify solutions, whereas negative people maintain a narrower perspective and tend to focus on problems (Fredrickson, 2009).
8. Positive thoughts and emotions counter the negative effects of stress. For example, you can’t be thankful and stressed at the same time.
9. Positive emotions such as gratitude and appreciation help athletes perform at a higher level (Institute of HeartMath, 2012).
10. Positive people have more friends, which is a key factor of happiness and longevity (Putnam, 2000).
11. Positive and popular leaders are more likely to garner the support of others and receive pay raises and promotions and achieve greater success in the workplace.
The Cost of Negativity:
1. Ninety percent of doctor visits are stress related, according to the Centers for Disease Control and Prevention.
2. A study found that negative employees can scare off every customer they speak with—for good (Rath, 2004).
3. At work, too many negative interactions compared to positive interactions can decrease the productivity of a team, according to Barbara Fredrickson’s research at the University of Michigan.
4. Negativity affects the morale, performance, and productivity of our teams.
5. One negative person can create a miserable office environment for everyone else.
6. Robert Cross’s research at the University of Virginia demonstrates that 90 percent of anxiety at work is created by 5 percent of one’s network—the people who sap energy.
7. Negative emotions are associated with decreased life span and longevity.
8. Negative emotions increase the risk of heart attack and stroke.
9. Negativity is associated with greater stress, less energy, and more pain.
10. Negative people have fewer friends.
Excerpt From The Positive Dog