Surprises! Rates(with no surprises)! and Ping Pong!

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Who likes surprises, let me see a show of hands? (counting…..) Seventeen of you, great! Here’s a good surprise to start the blog – today I am running my Siete de Mayo Special which you can read about in the Don’t Forget to Remember section below…

Surprise Quote of the Day: “The only thing that should surprise us is that there are still some things that can surprise us.” – Francois de La Roche

Wuss’up This Week: It’s always an exciting week in the mortgage world when the Fed meets and announces rates cuts! This is not one of those weeks. The Fed meets today at 2pm and here’s what will happen: Fed Chair Jerome Powell will talk about how last week’s Employment Report was strong, inflation is cooling but still above the 2% target and will then hint about future 2025 rate cuts as they take a ‘data-dependent’ approach. Sigh…. Who needs Fed Chair Powell when you have Fed Couch Schwartz prepping you in advance.

Interest Rate Update: We had a nice little rally last week before the Jobs Report was released which ticked rates up at the end of last week. Today we find a conforming 30yr fixed (*loans at $806k or less) in the high-6s/low-7s, and for Jumbo loans (*over $806k) about the same, although so ARMs in the low-6s. As usual rates will vary based on type of home, equity in the home, your credit score, and if you have shower thoughts

Don’t Forget to Remember: Any purchase loan that closes with me I will waive $450 in fees (and much more on refinances)! Wait – I forgot I’m running my Siete de Mayo Special this month – let’s bump that up to $550. Grab yourself some instant karma and pass my info along to any friends, family, coworkers, or people that like ping pong trick shots that can use this gift.

Surprise Quote of the Day 2: “I told my wife she was drawing her eyebrows too high. She looked surprised. – Tim Vine

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Timeout for Trivia: Congrats to those who guessed Kirsten Dunst last week! Want to be entered into a drawing to win a SpongeBob Feeling Fabulous T-shirt? Simply email me the answer to this week's Who Am I? question. Good luck:“My movie sequel was released on this day in 2010, and it could also have been called Ferrum Dude 2. An anagram for my name is Candled Hoe. Wow, that doesn’t sound very respectful for an actor who has won two Golden Globe Awards, two Grammy Awards, a Tony Award, and an Academy Award nomination – not many actors can say they have received nominations for the EGOT. I can see the lack of respect though because I starred in the Golden Girls spinoff the Golden Palance in ’92. Hey, you gotta take what you can get early in an acting career. Do you remember my 1998 TV movie playing one of the Rat Pack? I must’ve been pretty good because in 2001 I starred in a remake of the 1960 Rat Pack original. In 2002 I went back to TV to play a med student on ER who suffered from Parkinson’s disease. From 2012 to 2016 I starred in a Showtime comedy/drama series that followed a group of management consultants who stop at nothing to get business deals done. And I will stop at nothing to get that EGOT – damn you, Academy Awards! I really thought I was going to win for my 2009 DreamWorks film Hotel for Dogs. Hahaha, just kidding – I’m really talking about my 2005 film with a hotel in the title.”

The Adieu Mortgage Haiku:

Surprise – no rate cut!

But don’t worry, Mortgage Fans

They’ll be coming soon!