Angry Quote of the Day: “When angry, count to four; when very angry, swear.” – Mark Twain
Today in Economic History: It was on this day in 1863 when Sir Henry Royce was born. Royce was an engineer who in 1904 unveiled his first luxury automobile. His first line of cars caught the eye of dealer C.S. Rolls who ended up buying the first line of Royce cars; and after two years they merged into Rolls-Royce Ltd. What’s the most expensive car in the world, you ask? The Pagani Huayra Codalunga which is valued at $7-million dollars, and worth $6,986,000 more than my first car the Toyota Corolla.
Possible Game Show Answer: the sum of all the numbers on a roulette wheel is 666.
Wuss’up This Week: Every day reports about our economy are released into the wild, and it’s these reports that can sway interest rates in either direction. Not much happening today but tomorrow we’ve got the Consumer Sentiment Report and Pending Home Sales, and on Friday four inflation reports as well as Fed Chair Jerome Powell speaking. As usual, what Mr. Powell says – or doesn’t say – can impact rates, as well as the inflation reports.
Interest Rate Update: Today we find a conforming 30yr fixed rate at around 6.50%-6.75% for any loan at $250k or less, and from $250k-$766k they are ranging from the high-6s to low-7s. Jumbo 30yr fixed (*over $766k) are in the high-7s for a fixed rate and low-7s for an ARM. As usual rates will vary based on type of home, equity in the home, your credit score, and if you like strange things
Don’t Forget to Remember: Any purchase or refinance loan that closes with me I will waive $450 in lender fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that like to travel light and smart that can use this gift!
Angry Quote of the Day 2: “I think I start my day angry because I’m forced to see myself naked.” – @thesulk
Timeout for Trivia: Congrats to those who last week guessed Sharon Stone!
Want to be entered into a drawing to win a Cheeto Genius T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck: “Tomorrow is my birthday and I’m gonna sing the birthday song all by myself! I’ve got a fun stage name, and there’s no doubt that my real first name is the last name of a 90s rocker! I like to act, did you see me in October 2015 when I starred as a hotel owner on an FX series? How about my 2018 movie which could also be titled A Celestial Body is Birthed, and starred a guy who drank too much in a 2009 movie. Lefts shift to my singing: the dude that writes this blog thinks I am the only person to sing the National Anthem at the Super Bowl as well as headlining the halftime show of another Super Bowl. I know – it’s very impressive and I’m super-talented. What’s that? Don’t call me shallow!”
The Adieu Mortgage Haiku:
Angry about rates?
They will come down this summer.
Patience, Mortgage Fans…
