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Call Steve Adams (512) 947-1823

Monday Morning Coffee – September 25

The earnings component of the Employment report showed that the annual rate of wage growth in August held steady from July at historically low levels. Because this is another inflation indicator,  the tame inflation data continued the recent trend of steady or lower inflation readings, which has been good for mortgage rates.

The primary source of improvement for mortgage rates recently has been unusually provocative action by North Korea on Tuesday. The reaction from investors to the increase in tensions was to buy relatively safer assets such as U.S. mortgage-backed securities, causing mortgage rates to decline a little.  

And Here’s Your Monday Morning Coffee…

Every child deserves a champion – an adult who will never give up on them, who understands the power of connection and insists that they become the best that they can possibly be. ~ Rita Pierson

I was nine when I arrived at the Children’s Home in Nashua, New Hampshire, in 1965. I failed third grade that year, barely made it through a second time, and had squeaked through fourth grade by the time I reached Pauline Jambard’s fifth-grade class at Charlotte Avenue Elementary School.

I was convinced I wasn’t “smart” like the other kids, and I hoped I could make it through fifth grade. Ms. Jambard took an instant liking to me. 

Of all the subjects in school, reading was my favorite. She would tell me, “Terry, you keep reading. If you can understand what you’re reading, you’ll be smarter than most kids.” 

After I read all the books in our program, I started reading the classroom’s set of Encyclopedia Britannica. I couldn’t find enough to read, and I started to really like school.

That December, the children’s home threw a Christmas party for family and community members. My brother and I had no family to invite. I still remember looking up and seeing Ms. Jambard walk through the front doors of the children’s home and realizing she was there to see me. That was the best Christmas of my life.

After I graduated from Ms. Jambard’s class in 1969, my brother and I moved, and I lost all touch with my teacher. In 1983, I was on a business trip and had to drive through Nashua. I took a chance and dropped by Charlotte Avenue Elementary. I was walking toward her classroom when she came out in the hallway and said, “Terry!” It was as if I had never left. I was in seventh heaven on my flight home.

We have stayed in touch, and I call Pauline at least once a year. Because of the confidence she instilled in me, I went on to have a successful career in engineering and law enforcement. I don’t know if Pauline realizes how much she helped me, but I’ll never forget her kindness and faith in me. ~ Terry Fallon