January 16, 2024 By Barry Schwartz

Failure Quote of the Day: “Defeat is not the worst of failures. Not to have tried is the true failure.” – George Edward Woodberry (*This quote makes me reminisce back to 8th grade French class. My parents were not the brightest when it came to motivating me to get good grades, and they told me if I passed French I was smart enough to continue it in high school, but if I failed they would make me take Spanish instead. I hated French, so I literally tried to fail that class. (*and succeeded). Thus, my quote for the day is, “Defeat is not the worst of failures. Not to have tried to fail is the true failure.” – Barry Schwartz, 2024

Possible Game Show Answer: It takes a drop of water 90 days to travel the entire Mississippi River! I know what you’re thinking, Mortgage Fans, How do I get me some fun facts about the mighty Mississippi River? Here you go, enjoy

Today in Economic History: It was on this date in 1978 when the song Take This Job and Shove It, a song by Jonny Paycheck, hit number one on the Billboard charts. (*to anyone else who thinks now is a good time to tell your boss the same thing, please note that Jonny Paycheck declared bankruptcy in 1990.)

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 U.S. Retail Sales (expected up 0.3% – I think this will come in lower than expected because I just returned a waffle maker to Target that I got for Christmas), tomorrow Jobless Claims, Housing Starts, and Building Permits, and on Friday Existing Home Sales. If these reports come in good for the economy you’ll see rates tick up, and vice versa if the numbers disappoint.

Interests Rate Update: Today we find a conforming 30yr fixed rate for loans at $250k or less around 6.125%, for loans between $251k-$766k they are hovering around 6.50% – 6.80%, and jumbo 30yr fixed (*over $766k) can be found in the high-7s BUT…. I’ve got some good ARM pricing in the low-6s – get ‘em while they’re hot!!! As usual rates will vary based on type of home, equity in the home, your credit score, and if you like satisfying images

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 who are not the most fashionable that can use this gift.

Failure Quote of the Day 2: “If Yo-Yo Ma doesn’t answer the phone by saying “Cello” then I consider his entire life a failure.” – @Buckylsotope

Timeout for Trivia: Congrats to those who last week guessed Steven Van Zandt!

Want to be entered into a drawing to win a Log Cabin Incense Burner? Simply email me the answer to this week’s Who Am I? question. Good luck:”Today is the day you can sing Happy Birthday to me, but I’ve got a good set of vocals too, I’d be happy to sing along. I’m getting up there in age but from my first name you’d think I was still a child, and my last name you’d think I was part of the Flintstones cast. Eighteen years ago I married a TV lifeguard who used to be married to a drummer. I can drum, play guitar, piano, and just about any other instrument you can think of. I’m diverse. Did you know I started out as a rapper and then shifted to country music?! I know that’s hard to picture but I did it in a duet with a girl whose last name is a bird back in 2001. We’ve talked about rapping and country but in 2009 I won Favorite Rock Song with the help of a lot of sampling of a 70s southern rock band.”

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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