Going On About Pajamas, Rates, and Funerals Gone Wrong!

Happy New year, Mortgage Fans! My question to you: How’re y’all doing? (*not sure why I just turned into a southern Waffle House waitress with that last sentence, please ignore and let’s move forward). You want to know how I’m doing? Glad you asked, I’m doing great because last year I set a goal of losing 14 pounds and I nailed it!! Absolutely crushed my goal! There is no better feeling than making a resolution, staying focused, and never losing sight of…. Wait a minute… hang on…. I’m being told that was a typo. Sorry about that, it was actually 1.4 pounds. But hey, hitting 10% of a goal is still something, right? My old coach used to say, “Are you going to hit your goals this year, or are you just going?” I don’t even know if that’s how the quote finished, it was hard to hear him when I was sitting at the end of the bench. I do know that I’m going to start the blog now…

Going Quote of the Day: “If you’re going through hell, keep going.” – Winston Churchill

This Week in Economic History: It was on January 11th, 1757 when Alexander Hamilton, patriot, author, first Secretary of the Treasury, and future rapping actor was born.

Possible Game Show Answer: President Jefferson hated formal affairs so much that he would often greet foreign dignitaries while wearing pajamas. (*if wearing pajamas is a requirement for President then I’d like to announce I’m officially running in 2024. I have a lot of experience with this since I started working from home during Covid.)

Wuss’up This Week: Not a ton of reports being released this week that can impact interest rates. Today we’ve got Wholesale Inventories, tomorrow four inflation reports, and on Friday PPI and Core PPI (two more inflation reports — woohooo!). If the reports on inflation come in with bad numbers we’ll see rates tick up, and vice versa if they show a decrease.

Interest Rate Update: This is the first blog rate announcement using the new conforming loan limit of $766,550 – how ‘bout them apples, Mortgage Fans. When I first started in this industry the conforming loan limit was $227k, and I’m thinking at this pace the limit will be over a million before I retire. (*Please note that my financial planner told me at the rate I save I’ll be able to retire when I’m 104). Today’s 30yr fixed for a loan at $250k or less is at around 6.25%, and over that amount 6.50%-6.75%. For a jumbo 30yr fixed (*over $766k) the fixed rate is still super-high (7.875%) but I have some good ARM rates in the low-6s. As usual rates will vary based on type of home, equity in the home, your credit score, and if you’re interested in funerals gone wrong

Don’t Forget to Remember: Any purchase or refinance that closes with me I will waive $450 in fees. Grab yourself a cup of instant karma and pass my info along to any friends, family, coworkers, or people that learned 100 things in 2023 that can use this gift.

Going Quote of the Day 2: “You’ve got to be very careful if you don’t know where you are going, because you might not get there.” – Yogi Berra

Timeout for Trivia: Congrats to those who guessed Jonah Hill on the last question.

Want to be entered into a drawing to win a Girl Riding Alligator T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck:“It was on this date in 1999 when the show I was on premiered on HBO. What’s that, you didn’t like this show? That’s okay, maybe instead of watching it you’d like to be swimming with the fishes. Just kidding, I hate swimming and I’m not that tough – but I’m not “little” either – I stand almost 6-feet tall. As a teenager I was involved in a car accident where my head went through the windshield. To cover up the scars it left me I started wearing hats and bandanas – two things that are part of my signature look. Hey, speaking of cars, part of my last name (*or middle name, this blog writer doesn’t know the answer, if you know let me know in your guess) is a mode of transportation. And as I mentioned earlier, I’m not gonna swim, and I’m not a fan of cars. I was born to…. Hmmm, well, do something else besides acting.”

Hey, Mortgage Fans!

Ice Cream Quote of the Day: “Just taught my kids about taxes by eating 38% of their ice cream.” – Conan O’Brien

Today in Economic History: It was on this day back in 1978 when the Mint made a $1 coin with famous suffragist Susan B. Anthony’s picture displayed on it. I remember my dad went to the bank and got shiny new ones for me and my brother, telling us what a special coin it was and not to spend it. I’m proud to say I took his advice and didn’t spend it. For 3 days. Then blew it on gum & candy. My brother, who invented hoarding before hoarding was a thing, saved his, and I’m happy to report that his coin – which is in mint condition – is now worth $1.35. And that, Mortgage Fans, is the lesson to live for today!

Possible Game Show Answer: Human beings are the only animals confirmed to cry tears in response to emotions (*to this I will add being a Chicago sports fan I have cried tears in happiness, sadness, anger, embarrassment, and jealousy. Still waiting for fear, disgust, and shame which I’m sure will happen eventually.)

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. Today we’ve got a few inflation reports that start with the Producer Price Index, and end with the Fed’s decision to leave interest rates where they are. (*this would be a good time for Fed Chair Powell to start dropping hints about rates being lowered in 2024), tomorrow Jobless Claims, Retail Sales, and Business Inventories, and then on Friday the Capacity Utilization Report. Should these reports come out stronger than expected you’ll see rates tick up, and vice versa if the numbers disappoint.

Interest Rate Update: Today we find the conforming 30yr fixed rate at around the mid-6s for any loan at $250k or less, and upper 6s/low-7s for any loan in the $250k-$726k range. For a jumbo loan (*over $726k) they can be found in the low-8s for a 30yr fixed and low-to-mid 7s for a 7yr ARM. As usual rates will vary based on type of home, equity in the home, your credit score, and if you misquote famous movie lines

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 enjoy movie facts they didn’t know that can use this gift.

Ice Cream Quote of the Day 2: “When I want something a little healthier than an ice cream sandwich, I usually go for an ice cream salad.” – @badbanana

Timeout for Trivia: Congrats to those who last week guessed Harry Styles!

Want to be entered into a drawing to win a Hot Weiners T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck:“: “It’s my birthday today and I’m lucky to be alive after everything that happened this year. Does my name make me part of the animal kingdom? No, but my name does hang out in the woods like the Merry Men in my 2018 movie. I’m not married, I did date an actress (2013-2019) whose last name will make you think of a detective, but she made a good living so don’t call her a gold digger. (Why am I in the mood to sing all of the sudden?). Hey, speaking of singing, did you see the movie I made about a famous singer – I saw it but he didn’t. Enh, no worries, he is still a – how do you say it – a piece of light in my life.”

Hey, Mortgage Fans!

Well, it finally happened, Mortgage Fans – I got lackadaisical with my boosters and picked up Covid for the first time in my life. Old school Covid too – I completely lost my sense of taste and smell – which makes this a fantastic time to go to my mother-in-law’s for one of her dinners, but really – I don’t even have the energy to write cliché MIL jokes. What I do have – thanks to Instacart – are a bunch of supplies: Dayquil, Nyquil, orange juice (that I can’t taste), cough drops, and a box of Frosted Flakes to celebrate when my taste does come back. In the meantime, I will try and supply you with the usual blog, but with my lack of energy it will be a little ‘light’ on links, etc.

Supply Quote of the Day: “As I hurtled through space, one thought kept crossing my mind – every part of this rocket was supplied by the lowest bidder.” – John Glenn

Today in Economic History: One of the wealthiest counties in the country – Orange County – racked up debts of around $2 billion before it decided to declare bankruptcy on this date in 1994. (*And this is reason # 798 why you shouldn’t be watching Housewives of Orange County).

Possible Game Show Answer: Sea cucumbers eat with their feet. (*this reminds me of a really dumb story that I’m going to tell you now. In college I was really much more limber than I am now, and I won a bet that I could eat a package of Cheetos using just my feet. That earned me the nickname ‘Monkey Boy’ which only lasted about a month because at a party I was sitting on the railing of a porch and fell backwards, cracking two of my ribs. As I was lying on the ground writhing in pain, my friends stood over me discussing how a true Monkey Boy never would’ve lost his balance and fallen.)

Wuss’up This Week: All about jobs, folks — today we’ve got the ADP Employment Report, tomorrow Jobless Claims, and on Friday the Employment Report for November.

Rates Continue to Rally! Today we find a conforming 30yr fixed ($726k or less until the end of this month, and then $766,550 next year) in the high-6s/low-7s, and for a jumbo loan (*over $726k) in the mid-7s for a 7yr ARM. As usual rates will vary based on type of home, equity in the home, and your credit score.

Don’t Forget to Remember: Any purchase or refinance loan closing with me, I will waive $450 in lender fees. Please pass my info along to any friends, family, coworkers, or co-slackers that can use this gift.

Supply Quote of the Day 2: “Glitter is the herpes of craft supplies.” – Demetri Martin

Timeout for Trivia: Congrats to those who guessed Howie Mendel last week!

Want to be entered into a drawing to win an Elmers Glue T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck:“: “My song was released on this date in 2019 and peaked at # 6 on the Billboard Top 100 chart. I wish more of you would’ve adored it but no worries, I’ve had a few songs go to # 1. My first song to top the charts – from that same album – co that could be retitled ‘Cucurbita Citrullus Fructose’. My self-titled debut album was released in 2017 and the number one song from that album was a sign that I was going to be around for a long time. But yeah, I was around before that – you might remember me from 2011 when the group I was in had a name that told you we were only headed towards stardom. Final hint: An anagram for my name is Sly Rye Trash!”

Hey, Mortgage Fans!

Clown Quote of the Day: “Is it true that cannibals don’t eat clowns because they taste funny?” – Steven Wright

Today in Economic History: It was on this day back in 1942 when the American people were asked to make a huge sacrifice: Forgo coffee to help with the war effort. (*After reading this, I thought to myself, “Did the government use coffee beans to help make weapons?? Then I researched the answer: there was not a Starbucks on every corner back then, and they wanted to make sure the soldiers got their coffee to start the day. And that, my friends, is a prime example of why my brain prevented me from doing well in school. Coffee beans in weapons? C’mon, Barry!).

And speaking of coffee…. Here’s one of my all-time favorite headlines from The Onion

Possible Game Show Answer: The dot over your lowercase “I” is called a tittle. (*that sound you hear is the laughing of every guy you’ve ever known that never mentally grew up. And yes, sadly I am one of them…)

Wuss’up This Week: Not a whole lot going on that can impact interest rates until Friday when Fed Chair Jerome Powell speaks, about what – I have no idea, but always interested to hear what he has to say. Today, we’ve got the Fed Beige Book report, and tomorrow, we’ll have another round of inflation reports. I think these will show continued positive news for us, mortgage fans, and that is always good for interest rates.

Interest Rate Update: Today we find a conforming 30yr fixed rate at in the very high-6s/low 7s for any loan at $250k or less, and between $250k-$726k, they are in the mid-to-upper 7s. For jumbo loans (*over $726k), stick with the ARMs until refinance season; they are in the upper 7s for a 7-year ARM. As usual, rates will vary based on the type of home, equity in the home, your credit score, and if you appreciate cool archaeological finds.

Don’t Forget to Remember: Any purchase or refinance 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 amazing nature photos who can use this gift.

Clown Quote of the Day 2: “The most cutting thing you can say is ‘who’s this clown?’ because it implies they’re a) a clown and b) not even one of the better-known clowns.” – @skullmandible

Timeout for Trivia: Congrats to those who guessed Emma Watson last week!

Want to be entered into a drawing to win a Jack’s Salad Bowl T-shirt Simply email me the answer to this week’s Who Am I? question. Good luck:“It’s my birthday today, and my one wish: Do NOT blow out the candles, I don’t need your spittle going all over, okay? A little about me, I’m an older guy – those of you who are this blog writer’s age will remember me from a medical TV drama that ran on TV in the 80s. I’ve never worked in an office, but I will tell you that I used to be associated with something you bring to work and home from work every day, and you might know me from my current show that can be retitled U.S. Has Flair. Finally, I was lucky enough to receive a star on the Hollywood Walk of Fame in 2008; I am bald by choice, and let me tell you, Covid was a great time for me because I didn’t have to be exposed to anything or anyone!”

Hey, Mortgage Fans!

In the last year, we’ve seen the explosion of Artificial Intelligence (AI), and while most of the people I know are against it, I have been a staunch supporter from the very beginning. However, my opinion changed a couple weeks ago when I saw the danger that can happen if it falls into the wrong hands. I’m talking of course about the release of the new – and horrible – Beatles song Now and Then. Sometimes technology needs to know when to leave well enough alone, but I’m thankful the record executives say this is the last unreleased Beatles song that will be tinkered with, and for that I am grateful. Hey, it’s the grateful time of year, Mortgage Fans – and I am thankful for all of you and your support!

Thankful Quote of the Day: “What if today, we were grateful for everything?” – Charlie Brown

Possible Game Show Answer: The odds of giving birth to a baby at 12:01am on January 1st are around 1 in 526,000 – roughly the same odds of getting struck by lightning. (*about the same odds I had of getting a date for prom senior year of high school)

Wuss’up This Week: Lots of stuff going on with four inflation reports today, along with Retail Sales and two Fed Presidents speaking, tomorrow we’ve got Jobless Claims and five more Fed peeps speaking, and on Friday six more Fed speakers along with Housing Starts (predicted: 1.35 million). If these reports are good and the speakers like where things are headed, we’ll see rates go down, and vice-versa if it’s doom and gloom.

Interest Rate Update: In such a challenging year for rates… Wait, ‘challenging’ is not the best word to use. Hmmm… let’s replace that with the more professional and descriptive word: ‘crappy’! It’s been a crappy year for interest rates, but it was nice to see them dip last week for a change. Today we find conforming 30yr fixed rates in the low-7s if the loan is $250k or less, and in the upper-7s/low-8s if the loan ranges from $251k-$726k. for jumbo 30yr fixed (*over $726k) we find rates in the low-8s, but I’m recommending a good old fashioned 7yr ARM which is in the mid-to-upper 7s. Any loan you take now will – knock on wood – be a short-term loan that you/we can refinance in the near future. As usual rates will vary based on type of home, equity in the home, your credit score, and if you know someone having a worse day than you

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 have experienced strange phenomena that can use this gift.

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 winter wonderland photography that can use this gift.

Thankful Quote of the Day 2: “Even though we can’t have all we want, we ought to be thankful we don’t get what we deserve.” – Author Unknown

Timeout for Trivia: Before we get into today’s question, I had email issues last week, if you replied with an answer and I didn’t reply back, let me know this time around so I can give you an extra entry into the prize drawing. Also, Congrats to those who correctly guessed Gordon Ramsay last week!

Want to be entered into a drawing to win an Egg Rolls T-shirt ? Simply email me the answer to this week’s Who Am I? question. Good luck:“My movie was released on this date in 2002, the seven-word title had two R’s in the first word and two T’s in the second word. My costar in that movie earned $1-million for the first one and around $15 million for the 7th one – about the amount I received too. An anagram for my name is ‘Woman mates’ but I don’t have a mate now, so many to choose from – that’s the perks of being… famous. I stand 5’5 so in my opinion I don’t literally fit into the title of my 2019 Greta Gerwig movie. Last hint: My 2019 crime movie based on a true story had a two-word rhyming title, and my mother in that movie is a man in real life – hahaha”

A Blog Holiday: Hey, Mortgage Fans – just want to let you know that I’m taking a break from blog writing next week so I can prepare for Thanksgiving. How does one prepare (besides fasting)? It’ll be at my cousin’s house this year – close to forty people, and I’m not saying I’m a bad cook but this year they put me in charge of bringing soft drinks. I want to wish everyone a wonderful holiday weekend, and just remember – all families are dysfunctional, not just yours.

Hey, Mortgage Fans!

The 1970s were a wild time. I don’t know if parents could pull off a stunt like this today, but when I was five years old I had two surgeries at the same time: the removal of my tonsils as well as having a hernia fixed. My parents never told me about the hernia part, I think they didn’t want me to freak out about the surgical double-header. When I woke up from the anesthesia, I felt the pain in my groin, looked down at the scar, and thought, “Man, I had no idea my tonsils were all the way down there!” Most surgeries start with a cut – the very first step to get something working again. Maybe the Fed can learn from doctors, the best way to fix rates is to cut them – more on that below, Mortgage Fans…

Surgery Quote of the Day: “An incompetent teacher is even worse than an incompetent surgeon because a surgeon can only cut up one person at a time.” – Ernest L. Boyer

Possible Game Show Answer: The word astronaut comes from the Greek words meaning ‘star’ and ‘sailor’.

Today in Economic History: It was on this day in 1903 when the Dow dropped to 42.15. The stocks of industrial companies dropped to single digits and a financial crisis ensued for the rest of the year. This drop in the market was later coined the “Rich Man’s Panic.” (*sidenote: Every month like clockwork, when my Visa bill arrives, I suffer from Poor Man’s Panic.)

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 the Fed Chairs speaking, starting with three today (Lisa Cook who is a Fed Governor, KC Fed President Jeff Schmid, Michael Barr, and Philip Jefferson), tomorrow Fed Chair Jerome Powell will be on panel at the IMF (*that stands for International Monetary Fund. When Powell was raising interest rates I was calling him two of those letters), and on Friday the Dallas Fed President Lorie Logan speaks as well as Atlanta Fed President Raphael Bostic. That’s a lot of Fed speakers giving their opinions on how things should be, and usually that doesn’t help interest rates. We’ll see….

Interest Rate Update: A little rally last week/this week as today we find a conforming 30yr fixed in the high-6s/low-to-mid-7s for any loan at $250k or less, and mid-7s when between $250k-$726k. For Jumbo loans (*over $726k) still in the high-7s/low-8s depending on whether you’re looking at ARMs or fixed rates. As usual rates will vary based on type of home, equity in the home, your credit score, and if you like to see watermelons explode in slow motion

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 winter wonderland photography that can use this gift.

Surgery Quote of the Day 2: “A good rule to remember for life is that when it comes to plastic surgery and sushi, never be attracted by a bargain.” Graham Norton

Timeout for Trivia: Congrats to those who last week guessed Reese Witherspoon!

Want to be entered into a drawing to win a Planters Cheez Balls T-shirt? Simply email me the answer to this week’s Who Am I? question. Good luck:“It’s my birthday today and I’m getting up there in age! One day I’ll be up in heaven, while here on earth I am in hell and famous for it. An anagram for my name is ‘A Random Gyros’ and yeah, I guess that makes sense. I love TV – I made an appearance on The Simpsons in 2011, and in 2017 I also appeared on New Girl. I have never appeared on South Park but I bet you can guess my favorite character. I share my first name with a Charlotte Hornets player as well as a Denver Nuggets player (who uses it as a last name), and my last name sounds just like a brand of condoms that was invented in 1926.”