Change Quote of the Day: “Yesterday I was clever, so I wanted to change the world. Today I am wise, so I am changing myself.” – Rumi (*It seems like everyone with one name becomes famous, so from this point forward I am dropping Schwartz and will only be known as ‘Barry’.)
This Week in Economic History: It was on May 29th, 1932 when thousands of unemployed veterans, given the name ‘Bonus Army’, arrived in Washington to demand their cash bonuses thirteen years before they were scheduled to receive them. They were not given any compensation, and eventually forced to disperse by the National Guard. (who obviously got their bonuses already)
Wuss’up This Week: Lots of economic data being released that can shake up interest rates! Most importantly, today is my birthday – anyone mentioning this will get an extra entry into the prize drawing. Also today, the FOMC Meeting Minutes, tomorrow Jobless Claims and Pending Home Sales, and on Friday a handful of reports on inflation. If these come in good for the economy you’ll see rates tick down, and vice versa if the numbers disappoint.
Interest Rate Update: Rates have taken a beating the last couple of weeks, today we find a conforming 30yr fixed loan (*that’s at $726k or less) ranging anywhere from 6.50% – 7.375% , and jumbo 30yr fixed (*over $726k) at around 7.0%. As usual rates will vary based on credit score, type of home, equity in the home, and if an inspector finds something unusual about your home
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 kids that like things designed for them
Possible Game Show Answer: There’s a basketball court above the Supreme Court. It’s known as the Highest Court in the Land.
Change Quote of the Day 2: “I’m going to talk to my broker today about cashing in some of my stocks. And by that I mean ‘taking all my change to the coinstar machine.’” – @roothakers
Timeout for Trivia: Congrats to those who last week guessed Gwen Stefani!
Want to be entered into a drawing to win a Blockbuster Be Kind & Rewind T-shirt. Simply email me the answer to this week’s Who Am I? question.
Good luck: “It’s my birthday today, and I was born in Chicago! And well, yes, you may have seen me in Chicago too. An anagram for my name is ‘Hi, Corn Jelly’, and while I don’t think that’s a real thing, it sounds like it would go good with my costar’s last name from our ’94 rafting movie together. I wasn’t a good guy in that movie, and in fact most of my movies from 1989-2005 I wasn’t making you laugh either. I crossed over to comedy in a couple of movies with my pal Will Ferrell – one in 2006, the other in 2008. And in between those two I had a 2007 biopic parody about a famous singer where the title sounds like it could be an adult film.”
