Born Quote of the Day: “The two most important days in your life are the day you are born and the day you find out why.” – Mark Twain
Today in Economic History: It was on this day in 1999 the World Trade Organization (WTO) ruled against the European Union, stating it broke international rules by treating Latin American banana growers and their US supporters unfairly as compared to their competitors in Africa and the Caribbean. (*When my daughter was little she would tell me, “I want some b-a-n-a-n-a-s,” quoting the lyric from Gwen Stefani’s Hollaback Girl. Two things to note here: First, it’s annoyingly catchy and if you know this song it will now be stuck in your head for the rest of the day. I’m sorry for that. Second, I’m proud to announce that I, like Gwen Stefani, ain’t no Hollaback girl). I know you woke up this morning not knowing you would learn some cool things about bananas but there are fascinating facts here that are much more important than the rest of this blog.
Wuss’up This Week: So…. not a very exciting week for economic reports that can sway interest rates (*is any economic report exciting? That’s a rhetorical question, Mortgage Fans.) Today we’ve got the Trade Deficit Report, tomorrow Jobless Claims, and on Friday the Producer Price Index. If these reports come out strong than expected you will see rates tick up, and vice-versa if the numbers disappoint.
What do rates have in common with my dog? Absolutely nothing, although it wouldn’t surprise me if rates came into my room and peed on the carpet. I’m trying to figure out why they’ve gone up but really there is no rhyme or reason. Today conforming and jumbo 30yr fixed rates remain in the low-3s. ARMs are coming back though – they remain in the mid-to-upper 2s for both conforming and jumbo loans. 15yr fixed conforming loans (*that’s any loan at $548k or less) can be found in the mid-2s and are a great choice of loan if you’re looking to retire before all of your friends. As usual, rates will vary based on if it’s a purchase or refinance, your credit score, type of home, equity in the home, or if your home is a haunted Florida jail.
Don’t Forget to Remember: Any purchase or refinance loan that closes with me I will credit $575 towards the fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or movie characters who have switched movies that can use this gift.
Born Quote of the Day 2: “I was born a female. I identify as a female. But according to Tesco’s sticky toffee pudding, I’m a family of four.” – @KazzJenkins
Timeout for Trivia: Congrats to those who last week guessed Heath Ledger. Want to be entered into a drawing to win a 100 Movies Scratch Off Poster? Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this day in 2009 my song about Sin City was released, it peaked at # 9 on the charts. My next album was my biggie though – 5 number one hits, including one that was controversial due to the person I kissed in it. Speaking of kissing, growing up I wish I could’ve kissed my crush – a guy who starred in a show about living in a certain zip code. I could’ve married him, taken his last name, and no one would’ve ever known. Speaking of marriage – I had a bad one with a guy whose last name is another word for a label or trademark. I’m currently engaged to a guy whose first name may make you think of Disney World and last name may remind you of flowers.”
