That organic stimulus should continue to some degree, lagged effects being what what are. However, the rise in rates means fewer and fewer new beneficiaries, at least for the moment.

There was a thin calendar of economic news out this week, but perhaps the biggest was the at least tentative agreement on the extension of the Bush-era tax brackets. A compromise between the Administration and Republicans was reached on Monday, but Democratic opposition has so far kept the measure from moving forward. A mild payroll tax cut was attached to the measure, as was the extension of unemployment benefits for up to an additional 13 months.

Despite this week's rise, mortgage rates do seem to have leveled off. Barring any blockbuster economic data, there is a good chance that we have peaked, give or take a few basis points. If we have, and if history in any guide, we might see some slight improvement in rates over the next couple of weeks.

The Federal Reserve meets next week to ponder the efficacy of its program and sift through the economic tea leaves. A slew of fresh data is due out, including Retail Sales, PPI and CPI and a couple of fresh glimpses at the housing market. Stronger news could presage firmer interest rates, but since they have already firmed they probably stand fairly steady by week's end. Whew, many sure hope so as rates closer to 5% hurts when a few weeks ago we had rates closer to 4%!

Two elderly people living in Ft. Myers , he was a widower and she a widow, had known each other for a number of years. One evening there was a community supper in the big arena in the clubhouse.
The two were at the same table, across from one another. As the meal went on, he took a few admiring glances at her and finally gathered the courage to ask her, "Will you marry me?"
After about six seconds of 'careful consideration', she answered "Yes. Yes, I will!"
The meal ended and, with a few more pleasant exchanges, they went to their respective places. Next morning, he was troubled. Did she say 'yes' or did she say 'no'?
He couldn't remember. Try as he might, he just could not recall. Not even a faint memory. With trepidation, he went to the telephone and called her.
First, he explained that he didn't remember as well as he used to. Then he reviewed the lovely evening past. As he gained a little more courage, he inquired, "When I asked if you would marry me, did you say ' Yes' or did you say 'No'?"
He was delighted to hear her say, "Why, I said, 'yes, yes I will' and I meant it with all my heart."

Then she continued, "And I am so glad that you called, because I couldn't remember who had asked me."