The driving factor will be the Fed’s program of purchasing mortgage-backed securities. It’s set to come to an end on March 31. By industry estimates the Fed’s current hand in the market means that conforming fixed-rate mortgages are about three quarters of a percentage point (0.75 percent) below where they would be otherwise. How much rates can rise depends on how much private investors will buy into the mortgage-backed securities market and how strong their demand will be. Right now it’s anyone’s guess. That to me is enough of a case that mortgage interest rates will be on the rise.

Need another reason? Here it is: the Home-Buyers Tax Credit will expire in April 2010. When this credit first neared expiration, there was a flurry of home-buying activity and an uptick in demand for mortgages, causing mortgage rates to rise slightly. So if there’s another rush of buying to take advantage of the credit between now and April, this could also cause rates to rise.

Also, with some improvement in the economy, the Fed will need to start laying out a plan to remove some of the massive amounts of liquidity it’s been pumping into the system. To that end, the Fed already announced it’s raising the interest rate it charges on short-term loans to banks by a quarter point. As the mortgage market transitions from near complete government support to being supported more by the private market, there should be a return to “normal” mortgage rates.

All this means so long to the low rates we are seeing now, which have been the best rates in nearly 50 years. Mortgage forecasters think rates could increase by a half percentage point to a full point, which is a big increase from the near five percent rates we are seeing now.

Home buyers on the hunt for bargains should still be able to find them. There is set to be another wave of failed loans driven by job losses and some that will fail again after unsuccessful loan modifications. Also, another batch of pay option ARMs will hit their five-year “recast” mark this year — many of these folks will not be able to afford the increased mortgage payments that include all the interest and a small amount of principal, even at interest rates of three to four percent. The result of this continued wave of loan failures is more homes on the already over-supplied market. Buyers should expect to continue to find reasonable or even cheap prices for existing homes. But the only direction for mortgage rates from here is likely up.
By Ray Martin

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As per this CBS Moneywatch.com news clip, Now is the time to buy

1. Organize your foldersWe all know how easy it is to dump files into the wrong folder when we’re in a hurry. But one way to make sure you’ll keep your files organized is to remove the clutter with a filing system that makes sense for the way you use your computer. Here are a few tips to get you started:

•Start clean

Begin by deciding which files you no longer need on your hard drive.

•Think it through

Take the time to plan the best way to organize your files. How do you spend your time on the computer and what do you create? Do you work with photos and image editing software, surf the Web, write short stories, research school projects, or play games? The folders you create in Documents (called “My Documents” in Windows XP) can be easily tailored to show you just the kind of data about your files that you need to track.

•Use subfolders

After you have an idea of the kinds of items you produce and want to save, create folders and subfolders to store your files. Be sure to use logical, easy-to-understand names. For example, within Documents, you might create additional folders called Projects, HR Benefits, and Career. Then, within the Projects folder, you could create subfolders for each different project.

•Clean your files periodically

After you have set up your file system, inspect and clean it regularly. Routine maintenance tasks such as deleting old or duplicate files and folders and making sure that important files are in the right folders can save you a lot of time and frustration.

Windows Tip

To create a new subfolder with Windows 7, Windows Vista, or Windows XP, simply right-click anywhere in the folder, select New, and then select Folder. Type the name for the new folder and press Enter. In Windows 7, you can also click New Folder at the top of any Documents Library folder to automatically create a new folder. For more tips about creating a well-organized filing system, see 7 tips to manage your files better.

Windows 7 screen with New Folder command circled and New Folder ready to be named
2. Clean up your hard diskNow that you’ve organized your files and folders, and cleaned up your desktop, you can organize the data itself. Windows includes two utilities—Disk Cleanup and Disk Defragmenter—that help you free up more space on your hard drive and help your computer work more efficiently.

•Disk Cleanup compresses your old files so you can free up storage space.

•Disk Defragmenter scans your hard drive and consolidates files that may be scattered across the disk.

Not sure how often to run these utilities? It’s really up to you—some people like to run both weekly, others prefer monthly, and a few only run them every few months. It’s not a bad idea to do both at least once a month. Windows Vista users take note: Disk Defragmenter is automatically scheduled to run once a week (Sunday at 4 a.m.). You can change the scheduled time for this feature or turn it off, if you prefer.

•To find both programs in Windows Vista and Windows XP, click Start, point to All Programs, then point to Accessories, and then choose System Tools.

3. Use System Restore
System Restore is one of those programs that can be a life-saver when you’ve been the unfortunate recipient of unstable software, a badly timed power outage, or a damaging thunderstorm. System Restore records important documents, settings, and preferences on your computer. If the unthinkable happens and your computer files are damaged or inaccessible, you can use System Restore to restore your computer back the same state it was in before the data was lost.

System Restore creates restore points daily, and whenever you install device drivers, automatic updates, and some applications. Still, it’s a good idea to get into the habit of creating a system checkpoint (called a restore point) whether you’re about to install new software or take any action you suspect might make your computer unstable. That way, if there’s any conflict at all, you can restore your computer to the point just before you began the installation.

Windows 7
Click Start . In the search box, type system restore. Under Programs, click System Restore. Follow the directions in the wizard to restore your computer to the point you want.
First page of the Windows 7 System Restore Wizard
.
Windows Vista and Windows XP
Click Start, and choose All Programs.
Point to Accessories, then point to System Tools, and then choose System Restore.
When the program begins, choose Create a restore point and click Next.
Enter a description of the restore point and click Create. After a few seconds, the program will tell you the date, time, and description of the new restore point.
Click Close.
System Restore screen with a restore point created for a specific date before data was lost

4. Keep Windows and Office up-to-dateComputer programs are continually improved based on customer feedback and continuing product testing. As problems are resolved, you should benefit from those improvements. By checking Microsoft Update regularly, you can make sure you’ve got the most recent Windows and Office improvements available to you.

Windows 7 and Windows Vista users don’t need to sign up for Microsoft Update: an account is automatically created for you during the registration process and Windows Update is automatically installed on your computer with default settings that you can change later if you wish.

If you’re using Windows XP, you have to visit Microsoft Update to start the update process. If it’s your first time to visit Microsoft Update, you might need to sign up for the service.

Use Microsoft Update to install the update process for all Microsoft products on your XP-based computer

After you’ve visited the Microsoft Update site, you should also configure your Windows XP-based computer to receive critical updates automatically. This free service is called Windows Update in Windows 7 and Windows Vista and Automatic Updates in Windows XP.

Learn how to turn automatic updating on in Windows 7, Windows Vista, and Windows XP

Windows 7

Windows Vista

Windows XP

Important If you do not select the automatic updating option we recommend, you must download and install every critical update. If you download the updates, but forget to install them, your computer will not be protected with all the latest enhancements.

5. Run antivirus software AND a spyware detection and removal toolUpdating your Windows software is just the first step in keeping your computer safe. Next, you’ll want to download and install antivirus software and keep it up-to-date. Your computer may have come with a free trial of antivirus software, but if you don’t renew your subscription, you won’t be protected from all the latest threats.

If your computer seems sluggish or if you begin to see lots of pop-up advertisements, even when you’re not surfing the Web, your computer may be infected with spyware, adware, or other unwanted software. Learn more about spyware and what it can do to your computer.

The first Catholic man tells his friends, “My son is a priest, when he walks into a room, everyone calls him ‘Father’.”

The second Catholic man chirps, “My son is a Bishop. When he walks into a room people call him ‘Your Grace’.”

The third Catholic gent says, “My son is a Cardinal. When he enters a room everyone says ‘Your Eminence’.”

The fourth Catholic man then says, “My son is the Pope. When he walks into a room people call him ‘Your Holiness’.”

Since the lone Catholic woman was sipping her coffee in silence, the four men give her a subtle, “Well….?”

She proudly replies, “I have a daughter,

slim, tall,

38D breast,

24″ waist and 34″ hips.

When she walks into a room, people say, “Oh My God.”

Joseph may have been a carpenter who couldn’t find a real roof to put over Baby Jesus’ head that fateful night in Bethlehem, but apparently he can help you move on to your new home if you just have a little faith — and you needn’t be Catholic!

Whether for superstition or faith, a growing number of people have turned to the “Patron Saint of Real Estate” in the hopes that he’ll deliver, reported the New York Times. After all, desperate times call for desperate measures. And could covering up a saint with a little dirt really hurt?
Dubbed the “Underground Real Estate Agent,” St. Joseph statues have been steadily flying off the shelves of retailers from Catholic Supply of St. Louis and StJosephStatue.com LLC, a company started on a whim by a mortgage broker.

Legend has it that if you bury a St. Joseph statue in your yard, head down, facing the direction you want to move, your home will sell more quickly. When possible, place it near the for sale sign — mainly so that you can remember where you buried it and can dig it up after the sale. Then, it’s recommended that you put old Joe on a mantle or other prominent place in your new home, as a gesture of thanks. Or, just pass it on to a friend.

No yard? No worries. Bury a small statue in a potted plant, suggests the website LuckyMojo, which also offers a couple of prayers to recite on its site.

The statues are typically sold for less than $10 in kits, complete with an instruction booklet with burial prayer and a cloth carrying bag, such as the one pictured from StJosephStatue.com, which also throws in a free real estate listing on its site with every purchase (It currently boasts more than $2.4 billion in current listings.) Some people also obtain their St. Joe’s from their Catholic church, as was the case with Joe D’Eramo, whose tale will give skeptics pause.

“We were selling a home in Taunton, MA. It was an older home with a dirt floor basement. Two buyers had come and gone, each finding something during inspection to pass on the deal,” D’Eramo told HousingWatch. “I went to a local Catholic Church and asked where I could find a statue of St. Joseph. The receptionist had never heard the legend and brought me in to see the priest. He handed me a fairly large statue of St. Joseph and wished me well. By the end of that weekend, we had another buyer and this one closed.”

“Before moving, we gave the statue to my brother-in-law,” D’Eramo continued. “He, too, had been having difficulty selling his home, mainly because it had gone through some serious wear and tear. Lo’ and behold, they, too, received an offer and sold their home.”

So who exactly buys these statues? St. Joe’s popularity has shifted recently, Phil Cates, the owner of StJosephStatue.com, told HousingWatch.

“Caifornia, Florida and Arizona have consistently held the number 1, 2, and 3 spots for the most sales since 2005,” Cates said. However, over the last 60 days Florida took over the top spot, followed by Texas and New York. California moved to the fifth place after North Carolina.

Cates, a mortgage broker by day, speculates that California may have dropped on the list because more homes are being sold by the banks that foreclosed on the homeowners. “I’m not sure bean counters and spirituality have much in common,” he jokes.

Trisha Haas, head blogger at MomDot, has so much faith, she had her St. Joseph statue blessed by her brother-in-law priest before she buried it last month and caught it all on video for her readers. It’s been about 30 days and we are still waiting to hear if she’s had any offers.

In another case, it took just one weekend for a vacation home to sell after a burial. After close to two years on the market and a 20 percent price reduction on his Boulder ski home, Bob Webster of Webster Investment Advisers recalls, “I had now become desperate, as it had been 18 months and not a single offer…not even an embarrassing low-ball salvo. So casting my pragmatism aside, but still holding onto a sense of skepticism … I ordered [a statue].” The St. Joseph statue was buried on a Friday and on that next Monday night, he says his Realtor called with a full-cash, 30-day offer. The sale closed Christmas Eve 2009.

“To quote the classic band of the 70’s, The Monkeys, ‘Now I’m a Believer’,” says Webster, who grew up a Catholic kid in Brooklyn.

Stories like these have helped build a diverse following for Joseph. “Maybe half of our clients are Catholic,” says Cates of StJosephStatue.com. “The rest are Jewish, Hindi, atheist, Baptist. This cuts across all lines of thought. Some people look at it as ‘eh, what the heck do I have to lose.’ And others look at it as very holy.”

Cates started selling the statues 20 years ago after using them as a gimmick for marketing his mortgage business to real estate agents. He adds that some agents use statues to help gain their own business. About 40 percent of his sales are to real estate professionals.

Still, Cates doesn’t have his own head buried in the sand beneath the for sale sign. “While many people consider St. Joseph the silver bullet of real estate, I think we should leave the shiny ammo to ‘The Lone Ranger’ and magic to David Copperfield,” he concedes.

Yesterday this not-so-salacious vid — which features a fully clothed Yankovic lovingly playing with bubble wrap — only had around 300 views. Today it has more than 50,000. Why the rapid rise in interest? Here’s the basic progression:

“Wha?” begets Morbid interest begets “WTF?” begets Nervous, uncomfortable laughter begets Share

The comedian sets up the joke in the video’s description, which reads:

“‘Weird Al’ Yankovic caught in the act. Extremely graphic. You must be over 18 years old to view this footage.”

All in all, the video is far from lewd — disturbing is another story — but its shear viral nature really says something about our culture, which is obsessed with the latest celebrity indiscretion (I mean, Dustin Diamond has a sex tape, a “Weird Al” fleshfest ain’t that far-fetched).

Take a look if you have a second, although I far prefer “Amish Paradise“:

Tools of the trade
To efficiently telecommute, you’ll need the following tools.
Internet access: Most teleworkers have access to the Internet at home so that they can connect to their corporate network. As a home user, you can choose from three Internet access options:

•DSL: DSL stands for digital subscriber line. It uses ordinary telephone lines and a special modem to provide an Internet connection that can transmit high-bandwidth information to a user’s computer. A DSL line can carry both data and voice signals. The data part of the line is a dedicated connection to the Internet and does not interfere with the use of the telephone. DSL is high speed and is always connected to the Internet.

•Cable Internet: Cable Internet uses your local cable TV line to receive broadband Internet content. This data rate far exceeds that of modems and is about the same as DSL. Your local TV cable company is typically the cable Internet service provider.

•Satellite Internet: If cable or DSL aren’t available in your area, or if the slow dial-up access speeds are not acceptable, consider using satellite internet. It’s available to you if you live in the northern hemisphere and have an unobstructed view of the southern sky. The service is expensive and the data rate is not as fast as a direct line, but it is a good connectivity alternative if you live in an isolated location.

Computer: Of course, you’ll need a computer! You can use a desktop computer or a mobile PC. If you can take your mobile PC home from the office, you won’t have to install the same programs on your desktop computer. If you do need to use a desktop computer to connect to your organization’s network remotely, you may need to install additional software to meet your company’s connectivity and security requirements.

Dedicated space with some privacy: I’ve heard more than one frustrated telecommuter state that they have a hard time focusing when they work at home. When I ask where their desktop computer or mobile PC is located, they usually say it’s on the dining room table. By setting up your workspace in a busy location, you almost guarantee distractions. Instead, set up a safe, healthy, and efficient workspace with easy access to your computer, a phone, reference materials, and supplies.

Communication tools: When telecommuting, make sure that your colleagues, customers, and manager can communicate with you at all times. Whether you’re in the office or working remotely, make it easy for people to contact you. Here are some suggestions:

•Share your phone number with people you work with regularly and leave your contact information with your manager and one or two additional contacts (such as your administrative assistant or receptionist). Also, consider using call forwarding to your home or cell phone so that you receive incoming calls wherever you’re working.

•Consider using instant messaging (IM). Similar to a chat room, IM is a fast means of communicating with one or more people in real time over the Internet. IM also gives you a way to show and update your communication status throughout the day. For example, when you need a couple of hours of undisturbed concentration, set your status as “Busy” and let everyone know that you’ll be slower than usual to reply to e-mail messages and phone calls.

Tips for staying focused
The tools of the trade don’t guarantee success—you’ll also need some strategies to help you stay focused.

•Start working at the same time. Treat telework days like regular workdays: get up, get dressed, and be “at your desk” at the usual time.

•Establish a schedule. Keep work hours similar to the ones you would keep if you were working at your office. Your manager and your co-workers appreciate knowing when you are available.

•Limit distractions. Be careful not to replace office-based interruptions with home-based ones (such as children, neighbors, and friends).

•Plan ahead. Take the appropriate work home. Some work may be better suited for the home office than other work, so be sure to plan the telework a day ahead.

•Take breaks. Plan time to get up and move around. Consider going for a walk or a run during your lunch break to keep your mind fresh.

•Focus on objectives. Work with your manager and colleagues to define clear goals and objectives against which your performance can be objectively measured.

Telecommuting is not for everyone, but if your job lends itself to working remotely and you are self-disciplined and highly motivated, you can reap the rewards of working effectively at home or remotely. Using the information presented in this column, you can take advantage of the opportunity to work efficiently away from the office while remaining in touch with your colleagues and customers.

This article was written by Armelle O’Neal.

The $2.99 Special (sent to me by my Uncle…who is a senior)
We went to breakfast at a restaurant where the ’seniors’ special’ was two eggs, bacon, hash browns and toast for $2.99.

‘Sounds good,’ my wife said. ‘But I don’t want the eggs.’

‘Then, I’ll have to charge you three dollars and forty-nine cents because you’re ordering a la carte,’ the waitress warned her.

‘You mean I’d have to pay for not taking the eggs?’ my wife asked incredulously.

‘YES!!’ stated the waitress.

‘I’ll take the special then,’ my wife said.

‘How do you want your eggs?’ the waitress asked.

‘Raw and in the shell,’ my wife replied. She took the two eggs home and baked a cake..

DON’T MESS WITH SENIORS!!!
They have been around the block more than once!