Hey Mortgage Fans!
I used to tell people the greatest day of my life was watching the birth of my first child. That all changed last week when the greatest, most spiritual moment I have ever had took place, and I want to share it with you now. I was in a restaurant bathroom relieving myself at the urinal while also texting a friend. Not being the best multitasker, I dropped the phone. Before I continue this story I need to fill you in on a little phone/urinal history: I’m the biggest germ-freak on the planet, and in 2014 in the bathroom at Chicago Title, I dropped my phone into the urinal – which is probably where it stayed until I’m sure the janitor removed it and sold it. No way in the world I was ever going to use it again. If some deranged killer had come into the bathroom and locked us in there, and the only way to get help would be to call 9-1-1, I would elect to die instead of reaching for the phone. Okay, back to last week: So I dropped the phone, in a frantic attempt to catch it I hit it with my left hand (my right hand stayed where it had to, Mortgage Fans) and it ended up going behind me. I blindly horse-kicked it with my right foot, the phone shot up and over my shoulder and right into my half-open jacket, where I was able to trap it to keep it from falling. INCREDIBLE!! The greatest moment of my life. Hey, speaking of great it looks like rates started the year bad, went to mediocre, then to average, and now… More about that below.
Great Quote of the Day: “Not everybody can be famous but everybody can be great, because greatness is determined by service.” – Martin Luther King Jr.
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 the Consumer Price Index Report, Core CPI, a couple of Fed Presidents speaking, and the release of the FOMC Meeting Minutes, tomorrow the Producer Price Index Report and Jobless Claims, and on Friday, the Retail Sales Report. If these come in good for the economy, you can expect rates to go up, and vice-versa if they disappoint.
Interest Rate Update: As mentioned earlier, conforming 30yr fixed rates almost hit 8% a month ago. Today we find them in the high-5s/low-6s, and Jumbo 30yr fixed (*over $726k) in the mid-to-upper 6s. As usual, rates will vary based on the type of home, equity in the home, your credit score, and if you’re not the brightest.
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 cool random pics
Possible Game Show Answer: Ornithologists often use Cheetos to study behavior in crows. Along with being easy to spot, they’re also one of the birds’ favorite snacks. (*I believe that’s how my wife studies me as well).
Great Quote of the Day 2: “Go for greatness. Anything else is a waste of time.” -Marianne Williamson
Timeout for Trivia: Congrats to those who guessed REM last week.
Want to be entered into a drawing to win a Hartford Yard Goats T-Shirt? (I’m a sucker for good minor-league baseball team names) Simply email me the answer to this week’s Who Am I? question.
Good luck: It’s my birthday today, and my first name can be found in a chocolate pastry, my last name is part of a dog breed, and an anagram for my full name is Scared Alien. Hmmm.. I never played a scared alien, although I’ve acted in a science fiction film with a very muscular former politician (2003). When I was 15 I starred in a teen drama in the mid-90s that won me a Golden Globe and Emmy nomination (Crazy to think that this show was canceled after only 19 episodes. Oh… this supposed existence of mine.). Final hint: Had a nice run on cable from 2011-2020, in an espionage thriller series that co-starred a guy who luckily never said to me, “My name is Inigo Montoya. You killed my father. Prepare to die.”
