What Were You Doing The Last Time Mortgage Rates Hit 7.5 Percent?

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Good afternoon…

I woke up this morning to drive Ellen and I home to Phoenix from Coronado and ran straight to Grass Clippings board meeting.

Once in a while when you invest you stumble into ideas, teams, founders, products, timing etc that just seem to align so perfectly that you can sense magic. What makes Grass Clippings extra fun is the team and course are in Phoenix and close to home. High stakes, competitive, 2 hour rounds of night golf under the lights is going to be epic.

The team made a 30 second commercial that they ran locally during the Ryder Cup and the playoff Diamondback games and it is creating serious buzz. Have a look:

Onward…

I saw today that mortgage rates hit 7.5 percent which is the highest level since the 90’s.

Stocktwits asked ‘What Were You Doing’ the last time mortage rates hit 7.5 percent?’

Ellen and I were buying our first home in Arcadia, Phoenix for a whopping $165,000 and I was scraping the $20k down payment together and thrilled to get a 7 percent 30 year mortgage...

For those with cash…life is good and should get ‘gooder’!

The $300 trillion bond market is a wrecking ball (stocks $130 trillion according to google) with a lot of unintended and textboook consequences in motion.