A lot of you that read this blog know I like to joke around and keep it light, but today I’m starting with a more serious tone – and what I’m about to say I’ve thought about for a long time and may shock you but I need to come clean because I’ve always been an honest person and never cheated on anyone in my life. Okay, here goes … For the last 30 or so years Lucky Charms has been my favorite cereal – it’s been with me during the good times like my wedding, birth of my children, etc., and also there for the bad times – most notably – totaling my car, failing Spanish in back-to-back semesters in college, and the Bears Super Bowl loss in 2007. On our Zoom sessions my shrink is always accepting of my grabbing handfuls out of the box when things get deep. However, I’ve been seeing someone else lately: General Mills’ Cinnamon Toast Crunch. It happened on accident, the Instacart guy had it in one of the grocery bags that were dropped off, I never even ordered it! It was love at first bite and I’ve been going through boxes of it like a junkie on a crazed-binge. Is there guilt? Yes. Every time I open my pantry and see that stupid leprechaun staring back at me like a jilted lover it just kills me. Kills me! And I know it’s wrong the way I handled this but sometimes we don’t plan on these things happening, it just happens. With that said, I’d like to announce that Cinnamon Toast Crunch is now the official cereal of Barry’s Blog. Take a bite and tell me if I’m wrong, Mortgage Fans. In the meantime, let’s open the blog with some bite quotes …
Biting Quote of the Day: “Don’t be distracted by criticism. Remember – the only taste of success some people have is when they take a bite out of you.” – Zig Ziglar (*side note: a cannibal might’ve said this too.)
Did’ja Know: According to the Federal Reserve Bank there is over $10-billion dollars of home-related mortgage debt in the United States. This means that if every US citizen paid just $30 we could pay off all home mortgage debt! (*side note: I encourage all of my readers to feel free to start a #GoFundMe page to get my mortgage paid off).
Wuss’up This Week: Every day reports about our economy are released into the wild, and it’s these reports that can sway interest rates in either direction. Not much going on today but tomorrow three big reports: Jobless Claims, Durable Goods Orders, and Pending Home Sales, and then on Friday the Consumer Spending Report and Consumer Sentiment. If these reports come in better than expected you will see rates tick up and vice-versa if the numbers disappoint.
Interest Rate Update: I’m pleased to announce the comeback of ARMs. For the last 3-4 years they’ve been only a sliver lower in rate than the 30yr fixed but lately they’ve decided to separate themselves from the fixed rates. A reminder that an ARM is a fantastic product if you plan on staying in your home for 10 years or less. There are 5yr, 7yr, and 10yr ARMs – all in the low-to-mid 2s. Getting back to our friend the 30yr fixed, you’ll find that rate today in the high-2s/low-3s for a conforming loan (*$548k or less), and a jumbo loan (*over $548k) can be found in the low-3s. As usual rates will vary based on if it’s a purchase or refinance, type of home, equity in the home, your credit score, and if you have Zoom meetings with your dogs.
Don’t Forget to Remember: Any purchase or refinance loan that closes with me I will waive $575 in lender fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that can match foods with their tagline that can use this gift.
Biting Quote of the Day 2: “Remember to wash your hands with soap and water for twenty seconds. And, before biting an apple, rub it briefly on the shirt you’ve been wearing all day.” – @bjnovak
Timeout for Trivia: Congrats to those who last week guessed Tom Petty. Want to be entered into a drawing to win Corn Scented Ear of Corn Soap? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today and I will gladly sing Happy Birthday. Did you know that the man who was last week’s trivia answer wrote (and sang) on my biggest-selling single of my solo career? Yep it’s true! Before my solo career I was in a group with my boyfriend whose last name is the first name of our group and also a historic Chicago landmark. People say we don’t get along now but don’t listen to those rumors. Also don’t listen to those lies that I’m also a reincarnation from the Salem Witch Trials (*editor’s note: While the Salem Witch trials were based on lies and accusations, if you think about it we really haven’t had a witch problem since. Just sayin’.) although I did play one in the 2014 series American Horror Story. Yeah, I like acting but music is my main gig. Many people ask me my favorite song to sing live, I tell them the one that the Smashing Pumpkins covered.”
