Today in Economic History: It was on this day in 1932 that thousands of unemployed veterans, given the name the Bonus Army, arrived in Washington to demand their cash bonuses 13 years before they were scheduled to receive them. (*this reminds me to ask my boss now for my 2032 bonus).
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 Weekly Jobless Claims, and on Friday Consumer Spending and Core Inflation Reports. If these come in good for the economy you can expect rates to tick up, and vice-versa if the reports disappoint.
Interest rates continue to flat-line as a jumbo 30yr fixed (that’s any loan over $484k) remains in the very low 4s, and conforming 30yr fixed (under $484k) a sliver above. Adjustable rate mortgages are not far behind – maybe .125-.25% lower than the fixed rates. As usual rates will vary based on type of home, equity in the home, your credit score, and if you are curious to know facts about Elton John.
Don’t Forget to Remember: Any purchase or refinance loan that closes with me between now and the end of July I will waive $500 in closing costs! Grab yourself a cup of instant karma and pass this info along to any friends, family, coworkers, or people who want to know 100 interesting facts.
Rest in Peace, Billy Buckner.
Mistake Quote of the Day 2: “Welcome to Applebee’s! Can I take your order or do you need a few minutes to reflect on the mistakes you made in life that led you here?” – @jwoodham
Timeout for Trivia: Congrats to those who last week guessed Kevin Hart. Want to be entered into a drawing to win Avocado String Lights? Simply email me the answer to this week’s Who Am I? question. Good luck: “In two days wish me a happy birthday or I might shoot you. Yes, I’m tough. The title of my last movie didn’t make me sound tough – it sounds like the offspring of a male donkey and female horse. That movie was okay but I’m more proud of a movie I directed, starred in, and scored (in 2004) – it starred an actress who has the synonym ‘dazzle or fanfare’ as her last name. In ’93 and ’95 I starred in two political thrillers – one where I was the bad guy trying to put the President behind bars, and the other where I was a good guy trying to save the President.”
