Returning home from college one year I packed my clothes in a Hefty garbage bag because I had lent my suitcase to my girlfriend (who ended up breaking up with me but kept my luggage. Apparently, not all baggage from past relationships is bad). I checked my bag (*literally – my ‘bag’) at the airport, flew home to Chicago, and then when the luggage started coming out of the carousel I heard a bunch of laughter as pieces of clothing started making their way around. Apparently, my bag sprung a leak at some point during the trip. I don’t know what was more humiliating, the slow clockwise roll of laughter as people saw my clothes for the first time, or the traveler who turned to me and said, “Who in the world packed their clothes in a garbage bag?” to which I replied, “Morons – when will they learn?” I called myself a moron. Anyway… with the holiday season upon us, you might find yourself at an airport in the near future – so I’m throwing in some luggage quotes to get the blog started.
Luggage Quote of the Day: “I love flying, I’ve been to almost as many places as my luggage.” – Bob Hope
This Week in Economic History: It was on December 17th, 1878 the U.S. Gold Exchange closed its doors because of a decrease in demand, however, it reopened again in 1879. I wouldn’t have believed this as a kid because I remember a story about how heavyweight boxing champion Leon Spinks had his gold teeth taken from him in a robbery. Anyway, here are 50 cool gold facts to get your day started.
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. Today we’ve got the Retail Sales Report (*this will come in better than expected because I just bought a six-pack of Rogaine from Target), and tomorrow we have the Initial Jobless Claims, Housing Starts, and Capacity Utilization. Nothing is being reported on Friday so feel free to tell your boss that I said you can have a three-day weekend. (*no idea how that correlates to financial news but just roll with it). If the reports come in good for the economy you’ll see rates drift up, and vice versa if the numbers disappoint.
Interest Rate Update: It seems like banks are happy to have rates settle where they are until the end of the year. A conforming 30yr fixed-rate (*that’s for any loan at $648k or less) is at 3.25%, 15yr fixed conforming at 2.49%, Jumbo 30yr fixed (that’s for any loan over $648k) at 3.125%, and a Jumbo 15yr fixed at 2.75%. Also, don’t forget about ARMs – they aren’t just for hugging or nuclear wars – they are an excellent mortgage product! 7 and 10yr Jumbo ARMs range from the low-to-mid 2s. As usual, rates will vary based on if it’s a purchase or refinance, type of home, equity in the home, your credit score, and if you like hearing good news.
Don’t Forget to Remember: Any purchase or refinance loan that closes with me, I will waive $575 in lender fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or funny doctors or vets that can use this gift.
Luggage Quote of the Day 2: “There’s no way witnessing the birth of your child is better than seeing your luggage come out first on the baggage carousel.” – @DamienFahey
Timeout for Trivia: Congrats to those who last week guessed Meryl Streep. Want to be entered into a drawing to win a Fruit Loops Candle? Simply email me the answer to this week’s Who Am I? question. Good luck: “Dude! It was on this day in 2000 my movie came out. Not the best movie – a 17% approval rating on Rotton Tomatoes. Hey, speaking of food an anagram for my name is ‘Shortcake hunt’. Okay, let’s talk now about my spouses – my first one divorced me which goes to show you ‘less is more’ – haha. My second one I met way back in the 70s but hey, she’s really not that old. Do we pick the same movie topics to star in? I would say that answer is yes if you’re referring to both of our movies that involved sleeping with friends.”
