Watch Quote of the Day: “Life is like dice, so watch the ones you’re rolling with.” - LeCrae
Today in History: It was on this date in 1849 when Harriet Tubman escaped from slavery in Maryland, and eventually became a leading figure in the Underground. Here are 10 interesting facts about Harriet.
Possible Game Show Answer: Cockroaches can live without their heads – They don’t need a brain to breathe (they use spiracles) and can survive for a week without a head before starving.
Wuss’up This Week: We are finally here, Mortgage Fans – the Fed meets today and will announce at 2pm their decision on interest rate cuts. (*spoiler alert: It will be a .25 reduction). It’s not so much how much the Fed lowers, but what they say in the press conference that can sway interest rates in either direction. I remember back in the early 2000s when Fed Chief Alan “It’s not easy being” Greenspan kept raising rates and 30yr rates kept dropping. There have been other times when rates have been cut and mortgage rates have gone up, so really it will all hinder on what our friend Jerome says today. Here’s hoping he says this is the first of many…
Interest Rate Update: Today we find a conforming 30yr fixed rate (*$806k or less) anywhere from 5.99%-6.625%, and jumbo 30yr fixed (*over $806k) somewhere in the middle – 6.375% give or take. Jumbo ARMs are looking good – about a half a point lower. (*PSA for clients with active loans with me: The rate cut being made today has already been “baked” into the rates the banks offer for the last few weeks as they have been anticipating this.) As usual rates will vary based on type of home, equity in the home, your credit score and if you want to know the history of apple cider doughnuts.
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 friends, family, coworkers, or big animals that can use this gift.
Watch Quote of the Day 2: “I saw a sign that said ‘Watch for children.’ I thought, ‘That sounds like a fair trade.’” – Demetri Martin
Timeout for Trivia: Congrats to those who guessed Jennifer Hudson last week! Want to be entered into a drawing to win a Mystery Science Theater 3000 T-shirt? Simply email me the answer to this week's Who Am I? question. Good luck:“My show premiered on this date in 2013, and the best way to describe it is that it’s a spoof on police detectives. It’s funny because I had the same job title in my 2013 (comedy) as well as my 2005-2012 show (drama). Barry thought it would be fun to find some six degrees separation game thing but absolutely no crossover from the actors in those shows. Too bad, that would’ve been fun – haha. My birthday is in August although some people might think I was born on the Fourth of July if they follow the movies I star in. Some Gen-Xers might remember my ’92 film whose one-word title might be something customers bring to a strip bar. In that movie my co-star comes from Hollywood royalty, her last name sounds like a car brand but with an F instead. Final hint: If I was a cannibal, I could tell my husband I can eat him for breakfast and it would make perfect sense.”
The Adieu Mortgage Haiku:
Like Sheryl Crow sang
“The first cut is the deepest.”
Please cut deep, Jerome!
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