Naps! Ugly Rates! Baseball Season!

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Rip Van Winkle is a famous short story about a man who drinks a mysterious potion, goes down for a nap, and wakes up twenty years later. I would kill for a long nap like that - my son turned 26 in March and since he was born I feel like I’ve had mono that entire time. However, if I couldn’t nap for 20 years then maybe just the last couple of weeks would be good to sleep through because the market has absolutely stunk. All this tariff chaos has driven rates the wrong direction, although in my opinion rates are artificially inflated and will drop back down when the dust settles. So hang in there, Mortgage Fans, I made it a vow to not take any naps until rates drop.

Nap Quote of the Day: The best part of adulthood is realizing that naps aren’t a punishment. They’re a reward.” – Author unknown

Today in history: The first televised baseball game was broadcast on WGN-TV, featuring an exhibition match between the Cubs and White Sox. (*message to my brother and anyone else out there that roots for both of these teams: It’s an unwritten law in Chicago that you’re not allowed to like both teams.)

Possible Game Show Answer: The BBC played David Bowie’s “Space Oddity” during its moon landing coverage in 1969.

Wuss’up This Week: Every day economic reports are released into the wild, and it’s these reports that can sway interest rates in either direction. Today we’ve got U.S. Retail Sales as well as Capacity Utilization, tomorrow Jobless Claims and Housing Starts, and on Friday San Francisco Fed President Mary Daly will speak. If these reports are good for the economy we’ll see rates tick up, and vice versa if the numbers disappoint.

Interest Rate Update: This is a tough section for me to write this week but here goes… A conforming 30yr fixed loan (*that’s for any loan at $806k or less) can be found anywhere in from the upper-6s all the way to the mid-7s. (*I just threw up in my mouth after writing that.). Jumbo (*over $806k) can be found in the low-7s for a 30yr fixed and mid-to-upper 6s for an ARM. As usual rates will vary based on type of home, equity in the home, your credit score, and if you like cool ocean pics.

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

Nap Quote of the Day 2: “I like to play this game called ‘nap roulette.’ It’s where I take a nap and see if it’s 20 minutes or four hours.” – Author unknown

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Timeout for Trivia: Congrats to those who guessed Dennis Quaid last week! Want to be entered into a drawing to win a Tiny Jonas Brothers T-shirt? Simply email me the answer to this weeks’ Who Am I? question. Good luck: It’s my birthday today so that makes it a big day! It would be funny to say ABBA’s 1978 song was about me, but my name just appears in the title - I was born 15 years after that song came out, and I was raised on Chicago’s south side. I was suspended from school for smoking weed, so back then I could never imagine donating millions of dollars to CPS. I go by one name but my hat has a different number on it – and if that hint doesn’t confuse you here’s one that will: I won a Grammy for Best New Artist without ever selling a physical album. Last hint: I said earlier I go by one name but people know me by my name AND occupation. Like, if this blog’s writer followed in my footsteps he’d be known as Barry the Broker.”

The Adieu Mortgage Haiku:

Root for Cubs AND Sox?!

Is like rooting for high rates

Don’t be that person.