September 26, 2023 By Barry Schwartz

Hey, Mortgage Fans!

They say your body is made up of 90% water, but when I look in the mirror I’m seeing at least 20% Frosted Flakes. The diet I’m on started Jan 1st, 2023 and has not been the most successful because mainly I still eat like I’m in junior high school, but also because this market has been slow. When it’s slow, I eat. No worries, Mortgage Fans – I’m not going to jump onto the Ozempic bandwagon. I’m going to lose this weight the old-fashioned way: Liposuction! Just kidding, I’m gonna eat less, exercise more, and watch this market pick up! It already has this month, and while rates haven’t cooperated, we are hearing whispers of four rate cuts next year. Talk like that is sweet like this bag of mini–Chips Ahoy on my desk. Okay, let’s eat up – lots to digest in today’s blog.

Eating Quote of the Day: “You are what you eat so don’t be fast, cheap, easy, or fake.” – Author Unknown

Possible Game Show Answer: At one time, George Washington was the nation’s largest whiskey producer. He made 11,000 gallons in 1799.

This Week in Economic History: It was on September 29th, 1952 when the NYSE changed its ways, ending the half-workday on Saturdays. To compensate for lost time they added an extra 30 minutes at the end of the Wednesday workload. (*While I don’t have the facts on this, I’m guessing the employees probably spent that 30 minutes hanging around the water cooler complaining about hump day being too long.)

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 our “friend” Fed Chairman Powell speaking on the state of things, tomorrow there will be four reports released about inflation, as well as the Consumer Sentiment Report and Consumer Spending (*this will be up, I just bought a food processor and a 6-pack of boxer shorts at Target ). If these reports come in good for the economy we’ll see rates tick up, and vice versa if the numbers disappoint.

Interest Rate Update: Today we find a conforming 30yr fixed rate for loans at $250k or less in the high-6s/low-7s, and for loans over $250k they are ranging from the low-to-mid-to-upper 7s. Jumbo 30yr fixed (*over $726k) can be found in the low-7s. As usual rates will vary based on type of home, equity in the home, your credit score, and if you like vintage photos.

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 who like funny tombstones that can use this gift.

Eating Quote of the Day 2: “They have a sea food place at Sea World. How morbid. What if I’m eating a slow learner.” – @zoeklar

Timeout for Trivia: Congrats to those who last week guessed Stephen King!

Want to be entered into a drawing to win a Virginia Tech Football Dog Shirt? Simply email me the answer to this week’s Who Am I? question. Good luck: “It’s my birthday today, rest your voices – I’ll do the singing. I played hockey in high school and won MVP which is impressive since I was the only girl playing. You invite me to play hockey I’ll tell you, “Let’s goooooo!!!!” Actually I’ll say that about music too, haha. Y’know, I’m a tomboy, never been a girly-girl which I think helped my fame when my first hit in 2002 hit number two on the charts. The one-word title can also mean ‘complex’ or ‘tricky’. My second hit song from that album was about a girl that had a crush on a dude who didn’t play hockey but could still skate. This blog’s author is embarrassed to admit that he has my 2007 song – my first # 1 on the charts – in his iTunes workout playlist. (*editor’s note: in my defense it’s a really catchy tune, but the lyrics are very high school, i.e. ‘She’s like so whatever, you could do so much better’). In 2013 I married the lead singer of a band everyone loves to hate. That band’s name sounds like change, and that’s exactly what I needed after being married for two years to him.”

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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