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“I threw my phone from the roof, and it broke. I guess airplane mode wasn’t working.” Plenty of folks will be traveling soon. Here’s some trivia for tomorrow at the dinner table! (One wonders if residential lending is heading in this direction) … But there are only 12 passenger airlines in the United States. That’s up from 10 just a few years ago but down from about 80 airlines at the peak industry in the 1980s due to a series of bankruptcies and mergers. Four of those companies (Delta, United, American, and Southwest) control 80 percent of the market,...

If you’re really happy when a scheduled conference or Zoom call is cancelled, does that mean you’re in the wrong line of work? (Asking for a friend.) The demand for Team or Zoom calls certainly skyrocketed during the pandemic, although as companies have moved back into the office to some extent, the demand for them has dropped. Supply and demand determine mortgage pricing, so there is little use in a lender originating loans if there is no demand by investors or portfolios for those loans. Most jumbo loans are originated in states near the Atlantic and Pacific Oceans. Many origin...

“I got stuck in a conversation with some wealthy people and one woman asked me how my investments were doing. I replied that both avocadoes should be ripe by tomorrow.” Food prices are an everyday reminder of inflation on the spending side of the equation, but on the flip side, plenty of people don’t know where to put their savings these days. One can pick up additional income on savings in places like the perfectly safe TreasuryDirect account and earn over 4 percent on as little as $100. (I would like to think that money won’t change me, but I won $5 on a scratch-o...

“Thirty years ago, we had Bob Hope, Johnny Cash, and Steve Jobs. Today we have no hope, no cash, and no jobs. We are all praying nothing happens to Kevin Bacon.” “Bringing home the bacon” is something that has become strained for tens of thousands in our biz when they lose their job. I’ve been deluged with Wells Fargo folks wanting to change their email to their home email, and while this has always given me insight (in advance, often) into companies closing, to be FTC compliant I don’t actually add emails: sign up personal emails here under the ȁ...

It’s Thursday. What should we talk about today? Elon Musk’s bid for Twitter? How about the jump in adjustable-rate locks as evidenced by the MBA’s figures? (Are your LOs well-versed in them?) Their share of applications last week was at 7.4 percent, which was the highest share since June 2019. How about this unique measure of wage inflation? Last night in Manhattan I was chatting with a chef who, when COVID hit, had moved from a fancy restaurant to become a personal chef at three meals a day for a family in New York. The chef had changed jobs, and was now working for (coin...