Who Thinks They Know what really drives 30 Year cost of Money?
Is it the Bond Market? Is it Mortgage Backed Securities? Is it the stock market? Is it oil consumption and foreign policy? Or is it a combination of all the above? Call Craig Adelman and the Craig Adelman Lending Team at 303.809.8979 or check us out online www.craigadelman.com to participate in this rate conversation or to get approved for your upcoming purchase or refinance goals. Below is a an interesting fact about how the US is stock piling Oil reserves¦ wonder if gas pricess will go up or down?
With an increase of 4.5 billion barrels of crude oil in 2012, America's proven reserves are now 33 billion barrels, their highest level since 1976 and have been rising since 2009. Moreover, the increase in reserves in 2012 was the largest since 1970, when 10 billion barrels of Alaskan crude were added. At the current rate of consumption of 19 million barrels/day, proven reserves equal almost five years' worth of consumption. Wow 5 year reserves¦ interesting.
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