In previous notes, I talked about my morning activities sometimes focusing on my run, swim, or even the commute that daily brings me to A and N’s worldwide headquarters on the eastern edge of Chicago’s Bucktown neighborhood. I have referred to time spent greeting the dawn at a local park with my two dogs (a daily, year-round outing regardless of weather). Today, I want to focus on another aspect of my early mornings that colors my worldview. A couple years ago, I noticed the marcescence of a white oak tree near the park entrance. Like so many things, I didn’t quite notice that the leaves remained on the tree through the winter when first I saw it. Once I did, I couldn’t stop noticing it. I was amazed that it’s crinkly brown leaves clung to the tree against all weather – blizzards of snow, pouring rain, and even gale force winds could challenge the leaves, and still they remained. I began to view the tree as something of an anchor to my day. Even if the tree didn’t change daily, I began to notice that everything around it did — some days the sky was painted magnificent pinks and purples, and other times the sunrise burst through the tree so beautifully as to nearly defy belief. I began pointing my camera at the tree each morning to record the day-to-day changes. Without engaging in excessive hyperbole (is there any other kind of hyperbole?), what this tree reminded me was that even when we stand in the very same spot, we are never really standing in the very same spot. As I said above, this simple thing, this single white oak tree colored my world view. So much so, that when I left the country for a period of time earlier this year, I found myself looking at pictures of what I have come to think of as “my” tree and wondering what, in my absence, I missed. A bit daft? Perhaps, but it’s nice to know that you can look in the same spot and see something new.
What does this have to do with mortgages? As it turns out, very little. Back in May, the Federal Reserve made remarks we earlier discussed that caused mortgage rates to rise about one percent. Since that time, rates have been flat, that is, largely unchanged. If you were waiting for rates to go lower, it seems they won’t. If you fear they will go higher, and consensus suggests they will soon, now is the time to put in motion your planned real estate purchase or refinance. I am ready to help.