I Believe in Lower Rates, Swedish Cars, and Slinkys!

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Believe Quote of the Day: “When someone shows you who they are, believe them the first time.” - Maya Angelou

Today in History: It was on this date in 1967 when Sweden switched from driving on the left side of the road to the right side. They called it ‘H-Day’ (*I don’t know what that stood for but I imagine it probably meant Head-on Collision Day. Also, side note: thought it might be funny if I just said it meant “Honk!” but I didn’t, however – this led me down a rabbit hole about honking and if cars ever run out of honk).

Possible Game Show Answer: Vincent Van Gogh didn’t just cut off his ear – he packaged it and gave it to a woman at a brothel. (*In my opinion I don’t think he understood the form of payment they were looking for.)

Wuss’up This Week: Today the Fed will release their Beige Book Report. This is a homework assignment that comes from the 12 Fed Reserve Banks, it gathers input from local contacts (business owners, labor reps, etc.) about how they think the economy is doing. This report may give a hint about if the Fed will lower rates at their next meeting in two weeks (spoiler alert: my guess is a quarter cut.). On Thursday we have the ADP Employment Report (expected: 75k new jobs) and on Friday the August Jobs Report (expected: 75k new jobs and unemployment to tick up to 4.3%). Rates will tick up if the info is good for the economy and will drop a little if the numbers disappoint.

Interest Rate Update: In preparation for the Fed – knock on wood – cutting rates, bonds have rallied and rates have dipped a little bit. Today we find a conforming 30yr fixed rate (*these are for loans at $806k or less) at around 6.50% give or take, and jumbo 30yr fixed loans (*over $806k) can be found around 6.75%. As usual rates will vary based on type of home, equity in the home, your credit score, and if your pets are seeing double.

Don’t Forget to Remember: Any purchase loan that closes with me I will waive $450 in lender fees (and much more on refinances)! Grab yourself a cup of instant karma and pass my info along to any friend, family, coworkers, or people that like industry secrets that can use this gift.

Believe Quote of the Day 2: “My parents raised me to believe I could be anything I wanted… so I became a disappointment.” - Anthony Jeselnik

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‍Timeout for Trivia: Congrats to those who guessed Katy Perry last week! Want to be entered into a drawing to win a Slinky T-shirt? Simply email me the answer to this week's Who Am I? question. Good luck: “It’s my birthday today and instead of cake I’ll probably drink and smoke. (*funny, an anagram for my name is Inhale Cheers, and I will be inhaling, I’m sure.). I’ve got an older brother who’s an actor too. Many people ask me if he got in a lot of trouble in his high school years, which is annoying. My dad’s an actor too but I would say if you compare the three of us you’d say I’m winning. I’ve been around awhile and I can say many of the younger blog readers will probably only know me from my 2003-2011 sitcom – I was one of three leading actors on that show. Or was it two?? I don’t know, but what I do know is that I left that show and was replaced by an actor who was big in the 70s (*that’s a tricky clue, Mortgage Fans). From 2002-2006 I was married to a woman who became a housewife over a decade later.”

The Adieu Mortgage Haiku:

Van Gogh cut his ear

Jerome Powell will cut rates

One good cut, one bad.