Hey, Mortgage Fans!
I spent the weekend in Des Moines visiting my mother-in-law, and on the way to see her I passed a billboard that showed the national debt in real time. (this wasn’t it but still an interesting/frightening link) I gotta say, after seeing it I didn’t feel so bad about my credit card balances or for the fact that I was spending my hard-earned weekend in Des Moines. Visiting my MIL. And I guess that’s a good a segue as any into our first quote…
Debt Quote of the Day: “Blessed are the young, for they shall inherit the national debt.” – Herbert Hoover
Wuss’up This Week: Not a whole lot that’s going to change rates, Mortgage Fans. Today we’ve got the New Home Sales report, tomorrow Durable Goods Orders, and on Friday Fed Chief Powell will give an opening speech at the Jackson Hole Summit. Maybe, just maybe, he’ll talk about how they plan on lowering rates in the near future. In the meantime….
….not much movement from rates this week from last week. And the movement we’ve had has been the wrong direction. Today we find a conforming 30yr fixed (*that’s for any loan at $726k or less) in the mid-6s if loan is below $250k and in the high-6s-mid-7s if the loan is over $250k. Jumbo 30yr fixed (*over $726k) can be found in the mid-7s, although jumbo ARMs are coming back and they are lower – in some cases. As usual rates will vary based on type of home, equity in the home, your credit score, and if you’re lucky
Don’t forget to Remember: Any purchase or refinance loan 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 intrigued by weird disasters that can use this gift.
Possible Game Show Answer: Galileo’s middle finger is on display at the Museo Galileo in Florence, Italy.
Debt Quote of the Day 2: “When a man is in love or in debt, someone else has the advantage.” – Bill Ballance
Timeout for Trivia: Congrats to those who last week guessed Emma Stone!
Want to be entered into a drawing to win a Cap’n Crunch Peanut Butter Crunch T-shirt. Simply email me the answer to this week’s Who Am I? question. Good luck: “It was on this date in 2005 my song was number one on the US Billboard charts, it stayed # 1 for 14 weeks, the second longest number one run in US chart history. . I know what you’re thinking: Four months too early. Neh, I got number one songs every month of the year. Anyway, you know what song had the longest run of 16 weeks? For that you’ll have to talk to the group I collaborated with – just young boys back then, and now yes, they are fully grown men. I was born in 1969, my parents named me after a song from the Broadway play Paint Your Wagon, so yeah, I guess I was born to make music. While I write all my own songs, do you remember the cover version of a Jackson 5 song I did for MTV’s Unplugged? While I love music I have also starred on the big screen, but let me tell you – fame isn’t all glitter. Last hint: An anagram for my name is Hairy Camera.”
