November 28, 2023 By Barry Schwartz

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!”

About The Author


Barry Schwartz

Originally from Wilmette, Illinois, Barry graduated from the University of Kansas in the late 80s and started working for Perl Mortgage in 1998. Barry's drive and motivation came from his first home buying experience. His dedication to clients has helped Barry win industry recognition and rankings in the Top 40 Under 40 and Scotsman Guide Top 200.

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