Angry Quote of the Day: “When angry, count to four; when very angry, swear.” – Mark Twain

Today in Economic History: It was on this day in 1863 when Sir Henry Royce was born. Royce was an engineer who in 1904 unveiled his first luxury automobile. His first line of cars caught the eye of dealer C.S. Rolls who ended up buying the first line of Royce cars; and after two years they merged into Rolls-Royce Ltd. What’s the most expensive car in the world, you ask? The Pagani Huayra Codalunga which is valued at $7-million dollars, and worth $6,986,000 more than my first car the Toyota Corolla.

Possible Game Show Answer: the sum of all the numbers on a roulette wheel is 666.

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 happening today but tomorrow we’ve got the Consumer Sentiment Report and Pending Home Sales, and on Friday four inflation reports as well as Fed Chair Jerome Powell speaking. As usual, what Mr. Powell says – or doesn’t say – can impact rates, as well as the inflation reports.

Interest Rate Update: Today we find a conforming 30yr fixed rate at around 6.50%-6.75% for any loan at $250k or less, and from $250k-$766k they are ranging from the high-6s to low-7s. Jumbo 30yr fixed (*over $766k) are in the high-7s for a fixed rate and low-7s for an ARM. As usual rates will vary based on type of home, equity in the home, your credit score, and if you like strange things

Don’t Forget to Remember: Any purchase or refinance loan that closes with me I will waive $450 in lender fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that like to travel light and smart that can use this gift!

Angry Quote of the Day 2: “I think I start my day angry because I’m forced to see myself naked.” – @thesulk

Timeout for Trivia: Congrats to those who last week guessed Sharon Stone!

Want to be entered into a drawing to win a Cheeto Genius T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck: “Tomorrow is my birthday and I’m gonna sing the birthday song all by myself! I’ve got a fun stage name, and there’s no doubt that my real first name is the last name of a 90s rocker! I like to act, did you see me in October 2015 when I starred as a hotel owner on an FX series? How about my 2018 movie which could also be titled A Celestial Body is Birthed, and starred a guy who drank too much in a 2009 movie. Lefts shift to my singing: the dude that writes this blog thinks I am the only person to sing the National Anthem at the Super Bowl as well as headlining the halftime show of another Super Bowl. I know – it’s very impressive and I’m super-talented. What’s that? Don’t call me shallow!”

The Adieu Mortgage Haiku:

Angry about rates?

They will come down this summer.

Patience, Mortgage Fans…

Tomorrow Quote of the Day: “Remember, today is the tomorrow you worried about yesterday.” – Dale Carnegie

Weekly Economic Insights: Historical Coin Facts and Fed Decision On Interest Rates

This Week in Economic History: It was on March 23rd, 1836 when the U.S. Mint, in keeping up with the latest technology, began using a steam-powered press to make coins. Okay, I know what you’re thinking, What a boring fact! Geez, give me a break – not every historic economic week is epic. Let me make it up to you with these 12 fun facts about coins

Possible Game Show Answer: The average cumulus cloud weighs roughly 1.1 million pounds.

Wuss’up This Week: The Fed will give their decision on whether to lower rates now, or wait until the next meeting. (Vegas odds have it at no rate cut this week. By ‘Vegas’ I mean “me” and by “rate cut” I mean “rate cut”) After that decision at 2:00pm, Fed Chair Powell will have a press conference; it’s what he says at this conference that can drive rates up or down. The only other thing of importance this week (besides my decision to get Potbelly’s or Panera today) will be the Existing Home Sales report being released tomorrow.

Current Mortgage Rates: March Update for Various Loan Amounts

Interest Rate Update: Today we find conforming 30yr fixed rates in the mid-to upper 6s for loans at $250k or less, and high 6s to low – to – mid 7s on loans $250k-$766k. For jumbo loans (*over $766k) in the upper 7s for 30yr fixed and lower 7s for ARMs. As usual rates will vary based on type of home, equity in the home, & your credit score.

Additional Read: Ways To Improve Your Credit Score

Special Offer: $450 Lender Fee Waiver for Your Mortgage Closing!

Don’t Forget to Remember: Any purchase or refinance loan that closes with me, I will waive $450 in lender fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that appreciate great ads that can use this gift.

Tomorrow Quote of the Day 2: “Don’t worry about the world coming to an end today. It’s already tomorrow in Australia.” – Charles Schulz

Timeout for Trivia: Congrats to those who last week guessed William H. Macy!

Win a Retro Frosted Flakes T-shirt! Answer This Week’s Movie Trivia Challenge!

Want to be entered into a drawing to win a retro Frosted Flakes T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck: My movie was released on this date back in ’92 and I wasn’t too happy with how it was edited, and I’m sure my parents weren’t either. But hey, let’s celebrate because I earned a Golden Globe nomination for Best Actress in that movie. You know who else was in that movie? A guy that was close to getting killed in his Sept ’87 movie (*play on words in that sentence, Mortgage Fans). I’ve made some bad movies too – do you remember my movie with Dennis Quaid, or the year after with Halle Barry (some critics call that one the worst movie of all time). I also like TV – I made some guest appearances on The Practice (2004, I won an Emmy for this one) and Law & Order: SVU (2010), and I liked my 2020 Netflix thriller because my character was kind of cuckoo.”

The Adieu Mortgage Haiku:

Today’s rates are good

Just like my trivia prize

Tony says, “They’re Greeeeeat!”

Economic Recap: Historical Insights, Trivia, and Market Outlook

Happy Quote of the Day: “Most folks are about as happy as they make up their minds to be.” – Abraham Lincoln

Today in Economic History: It was on this date back in 1812 when on the eve of war with Britain, President James Madison – in efforts to raise some capital for the war – convinced Congress to approve the very first war bond, for some $11-million dollars.

Possible Game Show Answer: Blood makes up about 8% of your total body weight. (*this just in: Lucky Charms make up close to 50% of mine.)

Wuss’up This Week: Before we look at this week, let’s reminisce back to last week when Fed Prez Jerome Powell said, “Inflation is not far from where it needs to be for the central bank to start cutting interest rates. I think we’re in the right place.” Mmmhmmm… yup! I wholeheartedly agree, sir! Hey, speaking of inflation we’ve got four inflation reports coming out tomorrow, along with U.S. Retail Sales report, and then on Friday the Consumer Sentiment Report. As usual if these reports come out good for the economy you’ll see rates tick up, and vice versa if the numbers disappoint.

Interest Rate Snapshot: Current Rates for Various Loan Types

Interest Rate Update: Today we find conforming 30yr fixed rates in the mid-6s for loans at $250k or less, and mid-6s to lower-7s on loans $250k-$766k. For jumbo loans (*over $766k) in the upper 7s for 30yr fixed and lower 7s for ARMs. As usual rates will vary based on type of home, equity in the home, your credit score, and if you know an animal that looks like food

Special Offer Reminder: $450 Lender Fee Waiver on Purchase or Refinance Loans!

Don’t forget to Remember: Any purchase or refinance loan that closes with me, I will waive $450 in lender fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that like 90s bands’ names that can use this gift

Happy Quote of the Day 2: “I just want to be as happy as a character in the first half of a horror movie.” – @meganamram

Timeout for Trivia: Congrats to those who last week guessed Dave Franco!

Guess the Celebrity Trivia Contest: Win an “I Love the 2000s” Poster

Want to be entered into a drawing to win an I Love the 2000s Poster? Simply email me the answer to this week’s Who Am I? question. Good luck: It’s my birthday today and I’m kind of old, it’s been years since I graduated from Goddard College. I know what you’re thinking, ‘He would never let his kids go to a college no one has ever heard of.’ Listen, you’ll have to talk to my wife about that, and that’s all I’m going to say. I like starring in movies, do you remember my 1996 film that earned me an Oscar nomination for best actor, eh? More recent films include my 2007 film with three other guys as costars (a home repair guy, a disco dancer, and a bad boy) and my 2011 movie with a handsome man as the lead that can be retitled The Car Legal Advisor. Last hint: an anagram for my name is All Way Mimic.”

The Adieu Mortgage Haiku:

What makes you happy?

For me it’s always low rates

Oh, and Lucky Charms!

The Stray Cat And The Waiting Game For Fed Rate Cuts

There’s a stray cat that comes by my house every once in a while. A few weeks ago we were eating dinner and saw him outside the window by the front door. I told my wife I was going to give it a little food, to which she replied, “Don’t you dare feed that cat! He’ll be here every day looking for food.” I nodded and left it at that. If my life were a movie it would’ve cut to the next scene where ‘5 minutes later’ would flash onto the screen and the audience would be watching me secretly feeding the cat some leftovers while my wife was safely distracted by one of her bad reality shows. My wife was right though, ever since that night he’s here every day around dinner time. Last night he showed up and I said to my wife, “That cat again? You fed him, didn’t you?!” because as every husband knows – the RDS (* Reverse Distraction Strategy) is the best way to stay out of trouble. (*to the 8,412 people this blog goes to, let’s keep this just between us, okay? No need for Lana to find out.) In the meantime, we’re still waiting for the Fed to feed us any kind of positive breadcrumbs that they’ll be lowering rates soon, and like that cat we’ll be showing up every day…. and waiting….

Cat Quote of the Day: “Women and cats will do as they please, and men and dogs should relax and get used to the idea.” – Robert A. Heinlein

Historical Insights: FDR’s Bank Holiday and White House Pool Trivia

Possible Game Show Answer: The White House Press Briefing Room was built over what used to be an indoor swimming pool, which was installed for Franklin D. Roosevelt in 1933. (*This is from ten years ago but I still think it holds the record: Here’s a house in Utah with the biggest pool on record)

Weekly Economic Outlook

This Week in Economic History: It was on March 5th, 1933 when in his second day in office, FDR declared a bank holiday that would close all the nation’s banks for four days, allowing them to rejuvenate from the frenzy of withdrawals during the Great Depression.

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. This week it’s all about jobs, starting with the ADP Employment Report today (expected: 150k new jobs), tomorrow Initial Jobless Claims (expected: 218k), and Friday’s biggie the Employment Numbers for February (expected: 210k new jobs). Also this week we have some Fed Presidents speaking, including Fed Chair Jerome Powell who will testify to Congress about their plan on whether to lower rates or not. Lots of fun stuff!

Current Mortgage Rate Landscape: Conforming, Jumbo, and ARM Rates

Interest Rate Update: Today we find a conforming 30yr fixed rate in the mid-to-upper 6s for a loan of $250k or less, and upper 6s-low-7s for loans $250k-$766k. Jumbo 30yr fixed (*over $766k) can be found… still high! But don’t forget the ARMs as they ate in the mid-6s. As usual rates will vary based on type of home, equity in the home, your credit score, and if you live in one of the 25 happiest cities in America

Additional Read: How Does Refinancing a Home Work?

Special Offer: $450 Fee Waiver on New Loans

Don’t Forget To Remember: Any purchase or refinance loan that closes with me I will waive $450 in lender fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people who think a cow started the Great Chicago Fire of 1871 that can use this gift.

Cat Quote of the Day 2: “If they could, cats would correct your grammar.” – @bazecraze

Timeout for Trivia: Congrats to those who last week guessed Woody Harrilson!

Guess the Actor Contest: Win an Accountability Banana!

Want to be entered into a drawing to win an Accountability Banana? Simply email me the answer to this week’s Who Am I? question. Good luck: “My film was released on this date in 2015 and it bombed here and probably in Germany too. An anagram for my name is ‘Dance Favor’ but there are Lego characters that can dance better than me. Anyway, screw dancing, I’m an actor! And yeah, my brother is the more famous actor than me, and hell – even my cheesy wife is a more famous actor – and she’s beautiful, men are crazy about her, but let’s bring this back to me. I’ve been in lots of movies – do you remember my 2012 movie that could be retitled Blackjack Leap Road? Or my 2007 and 2014 movies with Seth Rogan? My favorite movies were my 2013 film and the sequel in 2016 – you saw me in those, right?”

My favorite sportswriter, Peter King, retired last week. He ended every article with a haiku about the NFL and what was happening at that time. In his honor I will attempt to end every blog with a haiku as well, not sure how long it will last but here goes…

The Adieu Mortgage Haiku:

Wednesday the Fed speaks!

Give us some good news, Jerome –

It’s time for refis!

In college I wrote a paper for my philosophy class titled ‘Is Cauliflower the most overrated underrated vegetable, or the most underrated overrated vegetable?’ Really, really stupid, but that’s what happens, Mortgage Fans, when you wait until the last minute to complete an assignment. I guess if I had to re-write it today I’d come in with something like, ‘Is Inflation overrated or underrated in its relation to interest rates’ because really, even though we’ve had some bad inflation reports as of late, the rates are still too high for where they should be. Inflation was at 9.1% in June of 2022, and as of today we find it down to 3.1%, yet rates are hovering in the 6s & 7s when they should be in the 5s. More about inflation below, but in the meantime it’s time for a quote on – what I think – is the most underrated-overrated vegetable…

Cauliflower Quote of the Day: “Cauliflower is nothing but cabbage with a college education.” – Mark Twain

This Week in Economic History: It was on February 25th, 1913 when the ratification of the Sixteenth Amendment cleared the way for the creation of income tax. Boooooo!!! Anyway, it’s time to start procrastinating on doing your taxes, and you can start that procrastination by reading these fun tax facts

Possible Game Show Answer: Lobsters’ bladders are in their heads. (*side note: While my bladder is where it should be, there have been times in my life when I was accused of having my head stuck up a different part of my body.)

Wuss’up This Week: Today we’ve got the GDP (first revision), tomorrow Jobless claims, four inflation reports, Pending Home Sales, and four – count them – FOUR Fed Presidents speaking, and on Friday the Consumer Sentiment report as well as four more Feds speaking their minds. Inflation has once again been a hot topic that will be discussed amongst the speakers, and what they say usually has an impact on interest rates. Stay tuned…

Interest Rate Update: Today we find a conforming 30yr fixed in the mid-6s for first-time homebuyers at loans of $250k or less, high-6s-7.50% for any loan at $251k-$766k, and for Jumbo loans (*over $766k) we have 30yr fixed in the upper-7s but ARMs in the mid-6s – and as usual rates will vary based on type of home, equity in the home, your credit score, and if you find signs humorous.

Don’t Forget to Remember: Any purchase or refinance loan that closes with me I will waive $450 in lender fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or Oscar nominees who have competed against themselves who can use this gift.

Cauliflower Quote of the Day 2: “Use cauliflower as a substitute for mashed potatoes, rice, and any joy in your life. You have no friends now, there is only cauliflower.” – @TragicAllyHere

Timeout for Trivia: Congrats to those who last week guessed Sophie Turner!

Want to be entered into a drawing to win a Doodlebob Pencil Holder? Simply email me the answer to this week’s Who Am I? question. Good luck: “My basketball movie premiered this week back in 2008, this was my second basketball movie. In the first one (1992) I was a real hustler (haha, yes – that’s a reference to my ’96 movie). Anyway, both of those movies did okay at the box office, not huge hits but still successes. And let’s all raise a glass to my first success – my 1980s TV sitcom where my first name was the same first name as the character I played (and no, I wasn’t in Toy Story). Do you remember my 2012 movie that could be retitled Starvation Tournament? Millennials reading this probably remember that movie as well as my 2014 cable series starring a guy who has had so much success I don’t know why he signed up to do car commercials. Millennials won’t know this last clue: I’m married now for the 2nd time, and I’m rich enough where I won’t take any million-dollar offers from someone to sleep with my wife.”

My friend Jordan once bragged to me he studied harder for our English final than all the rest of his finals combined. That was enough proof for me, I would sit near him and just copy his answers because I hadn’t studied at all. A week after the final exam the teacher called us both into his office and said, “It’s clear one of you copied off of the other. I would notify your parents but you both got Ds on this test which is punishment enough.” After we walked out of his office, Jordan got mad at me for copying his answers, and I got mad at him for bragging about how much he studied for the final. It was pretty comical, but seriously, bragging about something and backing it up are two different things, and that was a lesson more valuable than I would ever learn in English class. Somewhere in the far future we’ll be able to brag to our grandkids that we lived in a time when rates were in the twos and in the eights in the same three-year span.

Bragging Quote of the day: “Bragging is not an attractive trait, but let’s be honest. A man who catches a big fish doesn’t go home through an alley.” – Ann Landers

Today in Economic History: It was on this day in 1946 when President Harry Truman created the Office of Economic Stabilization (OES). The office was designed to watch prices and try to keep inflation down as the nation shifted from a war-time economy to a peace-time economy. (*I don’t know what we’re doing now to try and keep inflation down but there’s no peace-time in my house when my Yen Yen order of two egg rolls, kung pao chicken, and fried rice added up to over $50 with delivery. More about inflation below…)

Possible Game Show Answer: Astronauts can grow up to 3 percent taller in space than they are on Earth because of the weightlessness causes the spine to expand.

Wuss’up This Week: Before I talk about this week we have to shed light on what happened last week. In particular, there were four inflation reports that all came in higher than expected – this is a rate killer, Mortgage Fans. In the span of two weeks we’ve seen rates climb a full point after a nice rally that started around Christmas (thank you, Santa!). Sometimes in this industry, reports that are way off expectations bring a knee-jerk reaction to those findings – and that in my opinion is what we’re seeing here. Take a deep breath, relax, and watch rates start to come down. They will. In the meantime, today we have the Minutes of Fed’s January FOMC meeting, tomorrow Existing Home Sales, along with a bunch of Fed Presidents and Chairs speaking.

Interest Rate Update: Today we find the conforming 30yr fixed rate (*this is for any loans at $766k or less) in the very high-6s-to-low-to-mid 7s, and Jumbo 30yr fixed (*over $766k) high-7s for a 30yr fixed BUT… mid-6s for ARMs! As usual rates will vary based on type of home, equity in the home, your credit score, and if you like a good rescue dog story

Don’t Forget to Remember: Any purchase or refinance loan that closes with me I will waive $450 in lender fees! Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or Yo-Yo experts that can use this gift.

Bragging Quote of the day 2: “Anyone else getting sick of their dad constantly bragging that the Zodiac Killer was never caught?” – @rolldigggity

Timeout for Trivia: Congrats to those who guessed John McEnroe last week!

Want to be entered into a drawing to win an Am I A Sandwich Hot Dog T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today and an anagram for my name is Southern Ripe! But really, flying from Chicago to my homeland you’d have to go mostly east. And to get to my fictional home, well… you’d have to travel to Westeros and Essos. But I love America, especially Phoenix at night. Haha, just kidding – that’s what you’d think my 2019 movie was about! Besides acting I love singing. Wait, I love singers. Actually, I fell in love with a singer from a boy band, married him in 2019, and divorced my 2023. I didn’t mind the divorce, sometimes a woman has to do what she has to do. And he probably thought a man has to do ‘What a man gotta do.’