Highland Village, TX

In a note to the reader at the beginning of this collection, Amy Tan admits that, "The Opposite of Fate is, in effect, really a series of "musings," each one linked to the other by her own "fascination with fate, both blind and blessed, and its many alternatives." These alternatives, she goes on to say, "can be summed up in one word—hope."

This is very much a book about life's twists and turns, its tragedies and small joys and the sometimes silly or even desperate actions we take to avert a particular course of events. Regardless of the unique direction of each story, the notion of fate is a central tenet, and will inevitably lead readers to look at their own lives and the role fate plays therein.

It's been awhile since I've read this book, but recent occurrences in my life brought me back to the tenets of fate Tan shares with us in her "musings." The Opposite of Fate is a book I am keeping on my shelf permanently. Readers will enjoy Amy Tan's book as it presents a refreshing meditation on the choices, charms, freedoms, and the luck that affects us all.

Copyright 2009 Linda Bourgault/lulugraphix. All rights reserved.

Yesterday, excitement was in the air as traders came back into the market with money in both fists. To balance their risk tolerance, money was flowing freely into both the safe haven of Bonds as well as the Stock market.

As mortgage rates improve, this opens the door to more refinancing. As refinances take place, mortgages are paid off leaving portfolios of Mortgage Back Securities with more cash and less securities. This means they have less risk...and lower performance.

Mortgage Portfolio Managers are holding too much cash, so these big mortgage portfolio's park this money in Treasuries - thus driving the yield on the 10-year Note lower. This is called convexity buying.

As I've said before, the media continues to be off base when they say that "mortgage rates are tied to 10-year Treasures." More likely, the 10-year Treasury is influenced by mortgage bonds.

Mortgage rates improved yesterday by .25% - in just one day's trading. This morning bonds continue to improve and stocks lose steam as traders cash in due to economic worries. However, our charts show us that we are positioned for a sell off in the Bond market as well. While daily and weekly activity continues to be volatile, I still anticipate rates to remain fairly stable over the longer term as long as inflation remains in check.

The polls are open and Election Day has finally arrived. Early voting has had higher turnout than previous elections and today's turnout is expected to be strong as well with reports of very long lines already.

A big job awaits our new President. How will he handle the current economic downturn and challenges we are facing on Wall Street and Main Street? And what will he tackle first?

Today is likely to be a quiet day in the markets as traders wait for the results of today's Election. Bonds are slightly improved and having little reaction to news items. Is this the calm before the storm?

During the day, there may be a lot of noise with news channels calling states early. It is very possible we will experience some short term volatility at the end of the day.

The market may react in the days to come should the election take a certain direction. Keep in mind, inflation is in check. Rates should remain stable after the noise clears.

It was no surprise yesterday afternoon when the Fed announced their Interest Rate Decision. The Fed cut 50 basis points as expected, lowering the short term overnight rate to 1%. This is the lowest level since June 2003. There was little reaction in the markets to the news, as it was anticipated.

This morning, it seems that Halloween came early bearing no treats. The Gross Domestic Product (GDP) declined in the third quarter. GDP is a measure of the total production and consumption of goods and services in the U.S. After a reading of 2.8% growth in the second quarter, third quarter showed a decline of 0.3% and consumer spending declined for the first time in 17 years and at the fastest pace in 28 years. While we've all felt the pressure inflation has brought, it is now showing up in the economic reports.

Although the text book definition of a recession is 2 consecutive quarters of negative GDP, many economist have been saying we are already in a recession, and I happen to agree. Keep in mind that these indicators are lagging. It takes a while for consumers to respond to inflation, change their spending habits and the results of that new behavior show up in our economic reports.

So what does all this mean to the consumer, the home buyer? Well, as I wrote yesterday, a Fed Cut does not help long term mortgage rates. In fact, they tend to rise following a cut because of the threat of inflation. However a slowing economy evidenced in today's GDP and Consumer Spending numbers leaves little room for inflation, which helps Bonds. Currently mortgage bonds are slightly lower (worse) and have been trading somewhat sideways for several days. Rates are higher than earlier this week, however keep in mind - they are still extremely attractive and home prices are at lows. It is a great time to be in the market for a new home.

With many people you will encounter in real estate business transactions and also in your personal life, sometimes I wonder if they don't know that they are not playing their music.

I think all of us have something very unique to offer to others and the world. Think of it like your sheet music with your very unique song.

It seems to be more spontaneous that it comes out of us when we are very young but gets dulled as we get older.

Can you imagine that? Getting dulled to yourself? Who ought to know you better than you? Well many forget who they really are, their interests, dreams and desires.

I do think this being de-sensitized to ourselves comes from the distraction of busyness. Now more than ever we can drown our own world with the noise from the outside.

Look at children for example and laughter. It naturally happens. They laugh so much more than adults. Maybe it is the lack of responsibility but I think it is a mindset of being free to be who they are in their core as well.

I've always been a fan of the three phrases on the left to live the good life.

It really isn't that hard to connect with others and in particular your self.

Practice especially the laughing and loving and the living well will come to you. Afterall, living well is what you were born to do. It is YOUR SONG!!