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Mortgage Updates

There’s just too much going on this close to the holidays for a heavy read. So, let’s just go with a light read of stuff you might not have known.

Came across this while pecking away at some unread news. There is apparently a chicken monopoly in the United States. So much so, that Costco is going to Nebraska to open a chicken farming operation. Not exactly the boon of an Amazon HQ2 for the local housing market, but Costco is all in. This new operation will provide Costco with 100 million chickens, or 40% of its annual chicken needs — allowing it to partially escape the apparent choke hold on poultry pricing the Tysons and Perdues apparently have.

If you think everyone did better than you in the stock market this year, the CEO of MoviePass’ parent company, Helios and Matheson, has had it pretty rough. In 2017, Ted Farnsworth was awarded $7.25 million in Helios and Matheson stock. As of a few days ago, that stock is now worth less than $50.

Yes, two $20s and a $10 bill.

Just enough for dinner and a movie if you are on a high school date and have a Groupon. To further put that into perspective, shares that closed at $2,520 in December 2017 are trading at less than 2 cents a year later.

So, with a piece of news you might not have known and another news story to show even those at the top don’t have an easy pass, let’s look forward to a safe, not-so-stressful, and happy last couple of weeks in 2018.

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Kris Barros

Kris Barros is the Director of Corporate Communications at Embrace Home Loans. He always has his eye on the market and real estate industry in order to bring you the most up-to-date, relevant mortgage news.