Two community events worth checking out:
Join me at Shaker's restaurant in Glendale to support the Women's 2oth Century Club tomorrow night! The Women's 20th Century Club of Eagle Rock is a non-profit organization of local women who work together to improve the community, so the money raised will go straight into bettering Eagle Rock .
The tree-lined sidewalk by Montrose Shopping Park plays home to a variety of artists who display and sell their work this weekend. From 9 am to 4 pm, walk along Honolulu Avenue to see the fine art created by the community's own artists.
An interesting calculation in the June 2008 Money magazine is the TED spread, an indication of easy it will be to borrow money. It's the difference between the 3 month LIBOR rate and the 3 month T-bill rate. The T-bill is essentially risk free and the LIBOR is the rate the banks charge to borrow from one another. If they are nervous about lending to each other, they certainly are more fearful about lending to you and me. They say a difference of .4 % is what we need to see. The latest figures show a spread of .97%, which is a bit more than last month, and a lot more than 1 year ago when it was .41%.
My conclusion: this formula confirms that it is difficult to get loans right now. I already knew that anything but the most pristine of credit, 20% down, conforming loan type buyer was having trouble getting a loan, but this formula shows me why and also how I can know when it is changing.
The Glen Iris Band performs.