Andy Murray has challenged Serena Williams to a showdown in Las Vegas.

Both Murray and Williams are fully focused on their respective Wimbledon challenges, but the Brit has been questioned as to whether he would be able to beat Williams on grass.

The prospect of a clash has revived memories of the matches in the 1970s when a 53-year-old Bobby Riggs, a star of the 1930s and 1940s, took on Margaret Court and Billie Jean King.

Those matches in 1973 drew widespread attention and when King faced and beat Riggs, it was known as the Battle of the Sexes.

Murray replied to the Twitter user that he would probably be beaten by Williams on grass, but it has not put him off issuing a challenge.

He wrote in his BBC Sport column: "I have been challenged by someone on Twitter to taking on Serena Williams. I'd be up for it, why not?

"I've never hit with her but she's obviously an incredible player and I think people would be interested to see the men play against the women to see how the styles match up.

"It's happened in the past with Jimmy Connors and Martina Navratilova. How about Las Vegas as a venue?" 
Source: Espn

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 New home sales rose in May to the fastest pace in five years, adding to signs of a steadily improving housing market.

Sales increased 2.1 percent in May compared with April, according to the Commerce Department, which said the new homes sales rate was at the highest level since July 2008.

Earlier on Tuesday, the S&P/Case-Shiller survey of 20 major metro areas reported a strong increase in average home prices with prices rising in all 20 cities.

"We're definitely seeing some good news and some very strong numbers," David Blitzer of S&P Dow Jones Indices told ABC News.

The average of the S&P/Case-Shiller home price index was up by 12.1 percent from last year.

"That's the best number in seven years," says Blitzer. April's price rise compared to March was the strongest monthly gain in 13 years. The strongest increases came in California and the Southwest.

Blitzer said last week's comments from the Federal Reserve that it may begin tapering bond purchases as early as this year and the resulting sharp increase in Treasury yields sparked fears that rising mortgage rates will damage the housing rebound.

"Home buyers have survived rising mortgage rates in the past, often by shifting from fixed rate to adjustable rate loans," Blitzer said in a statement. "In the housing boom, bust and recovery, banks' credit quality standards were more important than the level of mortgage rates. The most recent Fed Senior Loan Officer Opinion Survey shows that some banks are easing credit restrictions. Given this, the recovery should continue."

Zillow's chief economist Stan Humphries said the S&P/Case-Shiller numbers may reflect where the housing market has been in some of the frothier metros, "but they are not indicative of where it's headed."

"The housing market worm has turned over the past few weeks – inventory levels are beginning to show signs of easing, and mortgage interest rates are creeping up. Going forward, both of these factors will help mitigate extreme price spikes caused by very strong housing demand and very low housing supply," said Humphries.

Overall, the national housing recovery is "strong and sustainable," Humphries said, but there will be pockets of volatility.

"Buyers expecting home values to continue rising at this pace indefinitely may be in for a shock," he said.

Another report showed improvement in the manufacturing sector.

American businesses stepped up their orders for long-lasting manufactured goods in May, according to the Commerce Department. Durable goods orders last month rose 3.6 percent, matching April's gain. Most of the increase was due to a surge in commercial aircraft orders, which tend to fluctuate sharply from month to month. Still, businesses also ordered more computers, communications equipment, machinery and metals.

My dedication to tennis has helped me achieve a National Senior ranking by the United States Tennis Association. There are a number of steps you can take to improve your tennis game.

1. Improving your groundstroke can greatly enhance your overall performance. Practice your groundstroke with a partner at least twice a week. Take lessons from a tennis pro at least once a month if possible.

2. Work to maintain your focus during a match. Instead of chastising yourself for making a bad shot, concentrate on what you must do to defeat your opponent.

3. Improve your fitness level. Losing a few extra pounds can make a huge difference in your stamina and lead to better performance.

4. Develop your serving technique. Serving is one aspect of your game you can work on alone as well as with a partner. Attempt to get to the point where you can serve effectively without having to think about your technique.

Written by Jim Clooney

James Clooney, Principal Advisor for Total Solutions Real Estate and an avid tennis fan, recounts his experiences with the sport and how they prepared him for a career in sales and finance.

My love of tennis really took off in high school. As a result of playing tennis competitively on the school team, I was able to get a four-year tennis scholarship to St. John’s University, an event that would help shape my career and life in general. While attending St. John’s, I was a member of the tennis team for four years and later became team captain, and I also participated in a number of extracurricular activities related to tennis. These experiences were extremely positive, endowing me with the teamwork and leadership skills, drive, and self-possession that would later serve me well in my career.

I have maintained my passion for the sport over the years. I am currently a ranked player in the U.S. Tennis Association’s senior division, and I do not intend to stop playing anytime soon. Additionally, I continue to participate in fundraisers for the St. John’s University tennis team. I cannot imagine how my life would have turned out without tennis, and I have no desire to live without it.

A nonprofit organization based in New York City, the Edwin Gould Foundation has been helping youth from disadvantaged backgrounds since 1885. Edwin Gould, a successful entrepreneur and member of one of the country’s wealthiest families, began a charity that eventually became the Edwin Gould Foundation. He founded his organization after his son died in a hunting accident and hoped that it would encourage young people to achieve to their highest abilities. The foundation began its work with youth boarding houses, summer camps, vocational training programs, and health-care facilities in the greater New York City area.

Today, the Edwin Gould Foundation provides funding and support to organizations such as New York City Outward Bound, Teach for America, Sponsors for Educational Opportunity, and Citizen Schools NYC. Another initiative is the Edwin Gould Academy, which offers educational programs, housing, and after-care services to youth who have outgrown the foster care and juvenile justice systems. The foundation continues to rely on the support of philanthropists to achieve its mission of serving young people in difficult situations.

As President of Total Solutions Advisors, James Clooney provides marketing services to consumer-finance and real-estates businesses. Mr. Clooney supports the Edwin Gould Foundation.

Many housing bears think that the recent increase in mortgage rates is the beginning of the end for the Canadian housing market. I’m not convinced; here are some reasons why.

Fixed-mortgage rates have gone up because they are tied to bond yields, which have been rising lately. That’s because investors are selling bonds and other defensive holdings on signs the North American economy is gaining momentum. In such an environment, they would rather have more of their portfolios in cyclical and growth investments.

What’s also to be expected as the economy gathers steam is growth in employment and household incomes. Importantly for housing, this will serve as an offset to the drag of rising interest rates.

Fears about tumbling house prices at the national level thus seem overblown at this stage. In fact, a recent empirical study found that the majority of increases between 1980 and mid-2010 did not undermine house prices.

Furthermore, variable-rate mortgages, which are linked to the Bank of Canada’s lending rate, won’t be increased until late 2014 according to Bay Street forecasts and futures markets. This should help keep housing affordable while employment and income move into a more supportive position.

Actually, mortgage rates hikes are initially positive for the housing market. They encourage prospective buyers to get off the fence and buy a home in hopes of avoiding further increases.

But it’s premature to say an uptrend in fixed-mortgage rates has started. Usually more than one or two upticks are required. And whether or not we get many more jumps in bond yields is debatable. For one thing, the Federal Reserve will be working hard to head off such increases (or rein them back in) through announcements and actions that allay bondholder jitters over too-rapid an uptake in economic activity. The U.S. Federal Reserve has already started the process by jawboning about its plans to taper off monetary stimulus.

Even if an uptrend were to emerge, Canada has a greater capacity to absorb increases than the U.S. had in 2007. Close to three-quarters of Canadian homeowners now have fixed-rate mortgages, so rate increases feed slowly into the market since only a portion come due each year. In 2007, about 75 per cent of U.S. mortgages had variable rates and the Fed was aggressively driving them up.

Source: The Globe and Mail

As an active member of the United States Tennis Association, James Clooney has experienced firsthand the numerous benefits playing tennis has to offer. Below, he offers just a few:

1. Tennis is an excellent source of cardiovascular exercise, which is important for maintaining a healthy weight and warding off the harmful effects of heart disease.

2. Tennis can help to eliminate stress, an excess of which negatively impacts both mental and physical health.

3. Playing tennis can help to develop better hand-eye coordination and improve motor skills.

4. Tennis is a sport that one can continue to play even as one ages. Doing so can slow the effects of the aging process and provide a means of social activity.

5. According to Dr. Ralph Paffenbarger of the Harvard University School of Public Health, playing tennis three hours per week at a moderately vigorous intensity level can cut the risk of premature death in half.

6. The alertness and strategic thought process required to outplay a tennis opponent can result in continuous brain development throughout life.

About the Author: A nationally ranked senior tennis player, James Clooney attended St. John’s University on a four-year tennis scholarship. Mr. Clooney is the Principal of Total Solutions Advisors.

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In a free market system the price of a good is determined by the supply and demand for a good. When the supply of a good falls or the demand increases, prices go up. The opposite is true when the supply increases or the demand falls. This basic economic rule holds true for mortgage rates.

Mortgage rates are driven by a very liquid market where millions of transactions take place daily. In this article we’ll talk about this market, and what you, the consumer, can keep an eye on to track rates and perhaps form an opinion on which direction rates might be going.

Shortly after being originated, most mortgages are sold into what is known as the secondary mortgage market. It is this secondary mortgage market, where mortgages are bought and sold,that drive mortgage rates on a daily basis. Supply in this market comes from borrowers who get a mortgage; demand comes from sophisticated institutional investors who buy mortgages. Institutional investors consist of pension funds, sovereign funds, insurance companies, hedge funds and the U.S. Federal Reserve.

Of note is that when a mortgage is sold it doesn’t necessarily mean that the “servicing” of the mortgage is sold. The “servicer” of a mortgage is the company which interacts with the borrower by sending out monthly statements, collecting payments, etc. Many institutions which originate mortgages, sell the mortgage, but keep the “servicing rights.” As a borrower, you should be familiar with the company who services your mortgage; however, the fact that your actual loan has been sold is generally not something to be concerned about.

In the process of being sold into the secondary mortgage market, most mortgages are packaged into a mortgage bond. Like other bonds, a mortgage bond is a claim to future principal and interest payments which can be sold to an investor. For example, the principal and interest payments you make on your mortgage are collected by the company that services your mortgage and then likely passed to an institutional investor which owns the bond of which your loan is a part.

The level of mortgage rates quoted at banks and mortgage companies are a function of the price for mortgage bonds in the secondary mortgage market. Before a bank quotes a mortgage rate to a customer, they know at what price they can sell that mortgage in the secondary mortgage market. When the price for mortgage bonds goes up, mortgage rates go down and vice versa.

On a daily basis billions of dollars of mortgage bonds are bought and sold. Like other bonds, inflation expectations play a large part in the price of mortgage bonds. Inflation erodes the value of the future principal and interest payments mortgage bond investors receive. If inflation expectations rise, bond prices fall and mortgage rates rise, and vice versa.

Currently, the largest investor by far in mortgage bonds is the U.S. Federal Reserve which, as part of their overall strategy to increase borrowing and lending and put a floor under home prices, has purchased well in excess of $1 trillion in mortgage bonds in the last three years, and continues to do so a pace of $65 billion per month. If you understand that rates are driven by the supply and demand for mortgage bonds, you will understand that the Federal Reserve’s huge purchases of mortgage bonds has helped to drive mortgage rates to historical lows.

In conclusion, mortgage rates change daily based on the prices for mortgage bonds. As part of their strategy to try and stimulate the U.S. economy, the U.S. Federal Reserve is currently by far the biggest buyer of mortgage bonds. The Federal Reserve’s demand for mortgage bonds has helped drive mortgage rates to all-time historical lows. When the Federal Reserve stops buying mortgage bonds, mortgage rates are likely to rise. Watch for news on the Federal Reserve’s current bond buying strategies to anticipate potential big moves in mortgage rates. On a daily basis, mortgage rates will vary with overall inflation expectations. There are several barometers of inflation expectations that can give clues to future mortgage rates. These include: the price of gold, the consumer price index and common sense observations about the health of the economy that can be made by anyone who manages a household budget. While it’s impossible to predict future mortgage rates, it is possible to have an educated opinion.